Eurazeo et al. invest €110m in ManoMano

Eurazeo Growth and Aglae Ventures, as well as historical investors General Atlantic, BPI France, Partech Ventures and Piton Capital, contributed to the injection of equity.

The Eurazeo growth team acquired a minority stake in ManoMano investing €50m in the business. This investment is the first for Eurazeo Growth, resulting from the merger between the Idinvest Growth and Eurazeo Croissance teams, according to a statement by Eurazeo.

BPI France used its €600m Large Venture fund, closed in 2013, to back the business.

This fundraising will allow ManoMano to continue accelerating its international expansion, develop its B2C and B2B offerings and services, and reinforce its R&D teams.

Previous funding
The business first attracted a €600,000 seed investment in 2014, followed by a €2m funding round that same year.

Subsequently, ManoMano raised a €13m funding round from Partech, Piton, CM-CIC Capital Privé and BPI France in early 2016.

Growth investor General Atlantic backed ManoMano in a €60m series-C funding round in 2017. The round was also backed by previous investors Partech, Piton and BPI France.

With General Atlantic on board, the company had planned to accelerate its growth through product development, the strengthening of its presence in Europe and recruitment efforts.

Company
Founded in 2013 and headquartered in Paris, ManoMano is an online market place dedicated to DIY and gardening. It operates in France, Spain, Italy, Germany, Belgium and the United Kingdom. The business currently employs 370 people.

ManoMano was expecting to generate sales of €280m for 2017, up from €89m in 2016, Unquote reported in Q3 2017.

People
Eurazeo – Yann of Rusquec (managing director of Eurazeo Growth).
ManoMano – Christian Raisson, Philippe de Chanville, (co-founders).

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• Topics
• Expansion
• France
• Consumer
• France
• Eurazeo
• General Atlantic
• BPI France