Investment round sees Ankorstore's value reach €1.75bn
Online wholesale marketplace Ankorstore has seen its valuation reach €1.75bn after raising another €250m from investors.
Founded in 2020, Ankorstore has 15,000 brands across home – which makes up almost a third of brands – grocery, fashion, beauty and children’s products. It has 200,000 retail customers in 23 countries.
‘Our mission is to create a global wholesale business to swing the balance in favour of independents'', explains and continues: “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simple for brands and independent retailers to do business together, being a part of their daily lives and changing the outdated habits of how retail works today - for the better.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. We have offices in Paris, London, Berlin, Amsterdam and Stockholm and in 2022 we will open offices in Italy and Spain so we can be as close to our brands and retailers as possible,’ says Nicolas Cohen, Ankorstore co-ceo and co-founder.
‘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,’ says Nicolas D’Audiffret, Ankorstore co-ceo and co-founder.
The latest funding involved BOND, Tiger Global, Eurazeo, Coatue and existing investors Index Ventures, Bain Capital Ventures, GFC, Alven and Aglae.
‘Ankorstore is building the next generation operating system for retail. Through its rapidly scaling cross-border wholesale network, the company provides best-in-class infrastructure for thousands of brands and independent stores worldwide. We are inspired by Ankorstore's leadership team and its bold vision - transforming commerce and unlocking powerful new opportunities across the retail value chain,’ says Mood Rowghani, BOND general partner, who will be joining the Ankorstore’s board.
‘As we expected upon our initial investment, Ankorstore has been instrumental in the re-opening of independent stores and retail across Europe these past few months. The strong growth combined with its bold vision and experienced team is very promising for the future. Tiger Global is proud to continue to support Ankorstore on its journey to becoming a worldwide leader, building the future of independent retail,’ says John Curtius, Tiger Global partner.