Ankorstore reaches $2 billion valuation two years after launching its wholesale marketplace
- BySaksham Daga | January 10, 2022
French startup Ankorstore has raised $ 283 million in a Series C funding round. Ankorstore was founded in November 2019 and it took about two years for Postmoney to reach a valuation of $ 2 billion. The company operates a wholesale market for independent retailers across Europe. The
Ankorstore allows independent brands to sell their products to independent retailers. These retailers can sell these products to their customers. This is a B2B2C game focused on offline sales at the end of the chain. The
Ankorstore has everything from household items to maple syrup, candles, headbands, bath salts and stationery. Some industries are particularly strong. B. Long-lived groceries, cosmet products, and items for your home.
And it works very well given the development of the company. Currently, 200,000 retailers use the marketplace to buy products from 15,000 brands. When Ankorstore launched Series B in May 2021, it told me that it works with 50,000 shops and 5,000 brands.
This marks the beginning of today’s funding round. Bond and Tiger Global lead Series C. Eurazeo and Coto also participated in the round. Some existing investors, such as Index Ventures, Bain Capital Ventures, GFC, Alven and Aglae Ventures, are investing more.
Not many companies are competing in this area. Perhaps the most famous wholesale market is Faire, a US-based company that has raised over $ 1 billion and has recently begun expanding its business in Europe. Creoate and Orderchamp also operate a wholesale market in Europe.
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