The funding will help Ankorstore enhance its platform. Here are the top-line bullets you need to know.
Ankorstore, a B2B2C digital marketplace, has raised $282.3M in a Series C. The round drew participation from Tiger Global Management, Eurazeo, Global Founders Capital, Bain Capital Ventures, and Coatue Management, among others.
How’s the company performing?
- France-based Ankorstore helps independent brands sell products to independent retailers. These retailers are then able to sell the products to their own customers.
- The company covers household supplies, kitchen essentials, stationery items, beauty products, and non-perishable groceries. It recently added sports & wellness and pet categories as well.
- In 2021, the startup added 11K new brands to its platform, bringing its total to 15K. The marketplace is currently used by more than 200K retailers, and it houses over 1M products.
- Ankorstore is currently supported by a team of around 400 employees.
- The company has offices in France, Germany, the Netherlands, Sweden, and the UK.
Why does the market matter?
- The global B2B e-commerce market is expected to reach a value of $25.65T by 2028, growing at a CAGR of 18.7%, according to Grand View Research.
- Several vendors have adopted digital transformation initiatives to ensure smooth operations, which has increased the demand for technologies to help manage online shopping operations, payments processing, and more.
- The onset of the Covid-19 pandemic and subsequent rise in online purchase volume have also contributed to market growth.