B2B marketplace Ankorstore reaches unicorn status with €250 M funding

Only two years after its launch, Ankorstore, the wholesale marketplace gathering 200,000 retailers and 15,000 brands across Europe, has reached unicorn status with a valuation of €1.75 billion.

The €250M  Series C funding round was led by BOND and Tiger Global with the participation of Eurazeo and Coatue as well as all existing investors: Index Ventures, Bain Capital Ventures, GFC, Alven and Aglae.

Ankorstore, whose mission is to reinvent the wholesale market for independent brands and retailers in order to level the playing field for independents has rapidly emerged as the category leader across Europe. Ankorstore’s sales volume increased by 950% between 2020 and 2021. With more than 11,000 brands registered in 2021, today, there are more than 15,000 brands selling more than one million unique products on the platform.

“Our mission is to create a global wholesale business to swing the balance in favour of independents,” explains Nicolas Cohen, Co-CEO and Co-Founder. “We want to make things easy and simple for brands and independent retailers to do business together, being a part of their daily lives and changing the outdated habits of how retail works today – for the better. This funding will allow us to expand geographically and accelerate activities in our European core markets. Today, we operate in 23 countries and have offices in Paris, London, Berlin, Amsterdam and Stockholm. In 2022 we will open offices in Italy and Spain so we can be as close to our brands and retailers as possible.”

Nicolas D’Audiffret, Co-CEO and Co-founder adds: “We needed an extraordinary team to scale-up as fast as Ankorstore has. That’s why I want to thank the entire team who has been instrumental in helping us grow from 0 to 400 employees, from 0 to 15,000 brands and  into a unicorn valuation in only two years. There are very few companies in the world that have accomplished this in such a short time. This is just the beginning in our mission to empower independent retailers. As we speak, we’re hiring top talent from across Europe, to strengthen our collaboration with brands and retailers and to develop our local sales and customer support to offer the best customer experience,  so that retailers can order easily and with no risk.

“We plan to scale both horizontally and vertically by adding new product categories and features. We recently added two new categories – sports & wellbeing and pets – to our five core product categories and will continue to invest in major product and tech developments to improve the customer experience for our community.”

Ankorstore was founded in November 2019 by four French e-commerce entrepreneurs: Pierre-Louis Lacoste (former Etsy country manager), Nicolas d’Audiffret and Nicolas Cohen (founders of A Little Market) and Mathieu Alengrin (former Head Engineer at Vestiaire Collective). The company has offices in Paris, London, Amsterdam, Berlin and Stockholm and 400 employees. To learn more, visit:  www.ankorstore.com

About Tessa Clayton

A former Chief Sub of Red magazine, Tessa Clayton is the Digital Editor of Licensing.biz and ToyNews. As a freelance journalist she specialised in writing about parenting and family life, and has contributed to a wide variety of publications and websites including Tesco online, Mother & Baby, Livingetc, Junior, Boots Health & Beauty, Practical Parenting and babycentre.co.uk. Get in touch at tessa.clayton@biz-media.co.uk

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