Index Ventures leads €25m round for Ankorstore

Existing investors Global Founders Capital, Alven Capital and Aglaé Ventures also participated in the round.

Ankorstore's revenues grew by 20x between February and October 2020, according to a report from Reuters. The company serves 15,000 independent shops and offers 2,000 brands.

The business intends to use the fresh capital to expand the number of brands and retailers that use its platform. Ankorstore also plans to expand its operations to the UK market in 2021.

Index Ventures is currently deploying equity via vehicles including Index Ventures X, which held a final close in April 2020 on $800m. The fund deploys equity for smaller startups and in earlier rounds than the VC's Growth strategy, which focuses on later-stage rounds. The fifth vehicle in the Growth strategy held a final close in April 2020 on $1.2bn.

Previous funding
Global Founders, Alven and Aglaé invested €6m in Ankorstore in December 2019.

Company
Ankorstore is an online platform that allows independent shops to source merchandise, connecting them to specialist brands. The platform pays the brands that have signed up to its service upon delivery of their merchandise.

Founded in 2019, Ankorstore is based in Paris. Its platform operates in France, Spain, and the Benelux and DACH regions. The company employs 59 staff, according to LinkedIn.

People
Ankorstore – Pierre Louis Lacoste (co-founder).
Index Ventures – Martin Mignot (founder).
Global Founders Capital – David Sainteff (partner).
Alven Capital – Rodolphe Menegaux (partner).
Aglaé Ventures – Antoine Loison (partner).

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• Topics
• Expansion
• France
• Technology
• Venture
• France
• Index Ventures
• Alven Capital