The French company Ankorstore has secured $29.9 million in a Series A funding round, equivalent to €25 million, with Index Ventures taking the lead. Previous investors, including GFC, Alven, and Aglaé, also contributed to this financing.

Ankorstore is developing a wholesale platform designed to link independent retailers with suppliers of various goods, such as home essentials, food items like maple syrup, accessories like headbands, personal care products like bath salts, and stationery, among many other products. This selection is characteristic of the diverse offerings found in local boutiques that specialize in unique and appealing items.

Currently, the platform collaborates with 2,000 brands and serves 15,000 retail locations. Ankorstore goes beyond simply facilitating transactions by implementing specific guidelines. For example, the initial minimum order value is set at €100, allowing retailers to test new products without committing to large quantities.

The platform’s standard payment process involves funds being released to brands 60 days after an order is placed, with payment occurring upon product delivery. Utilizing Ankorstore for purchases from multiple brands is intended to streamline administrative processes for retailers.

Ankorstore is presently operating in eight European countries – France, Spain, Austria, Germany, Belgium, the Netherlands, Switzerland, and Luxembourg. France represents the largest market, with Germany following closely behind. The company’s next planned expansion is into the United Kingdom in 2021.

Ankorstore shares similarities with Faire, a wholesale marketplace that has received substantial investment in the United States.

According to Ankorstore co-founder Pierre-Louis Lacoste, “Several retail marketplaces connect retailers with manufacturers and brands. We distinguish ourselves through a dedicated focus on the independent retailer, providing the resources and conditions that facilitate easy and affordable discovery and access to emerging and sought-after brands.”

Considering the company’s focus on smaller suppliers, their products are likely primarily distributed within Europe. This suggests an opportunity for a leading European platform in this sector, which could be described as wholesale marketplaces in the style of Etsy, with a strong emphasis on curated selections.