French online marketplace Ankorstore raises €250 million

French online marketplace Ankorstore has raised €250 million as part of a Series C funding round.

The Paris-based start-up claims its wholesale business-to-business network connects 200,000 retailers and 15,000 brands.

This latest round gives the company, founded in November 2019, a valuation of €1.75 billion.

The round was led by US investment firms Bond and Tiger Global, who also participated in Ankorstore’s €82 million Series B funding round in May 2021.

Eurazeo and Coatue also participated in the round. Existing investors in Ankorstore include Index Ventures, Bain Capital Ventures, Global Founders Capital, Alven, and Aglae Ventures.

Ankorstore currently has around 400 employees across offices in London, Berlin, Amsterdam, Paris, and Stockholm.

“Our mission is to create a global wholesale business to swing the balance in favour of independents”, said Nicolas Cohen, co-chief executive and co-founder at Ankorstore: “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simple for brands and independent retailers to do business together, being a part of their daily lives and changing the outdated habits of how retail works today - for the better.”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.”

He added: “In 2022 we will open offices in Italy and Spain so we can be as close to our brands and retailers as possible.”

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