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Ankorstore reaches unicorn valuation in just two years after securing €250m

Only two years after its successful 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 (£1.45 billion). The €250m (£208m) 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.

Founded in November 2019 by four French entrepreneurs, Pierre-Louis Lacoste, Nicolas d’Audiffret, Nicolas Cohen and Mathieu Alengrin, Ankorstore’s mission is to reinvent the wholesale market for independent brands and retailers in order to level the playing field for independents. Their 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 favor of independents”, explains Nicolas Cohen, Co-CEO and Co-Founder 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simple for brands and independent retailers to do business together, being a part of their daily lives and changing the outdated habits of how retail works today – for the better.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. 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.”

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