Ankorstore Raises $102M to Expand Wholesale Marketplace

Ankorstore Secures $102 Million in Series B Funding

The French company Ankorstore has successfully completed a $102 million (€84 million) Series B funding round. Leading this investment are Tiger Global and Bain Capital Ventures. Existing investors, including Index Ventures, GFC, Alven, and Aglaé, also contributed to this substantial funding.

This financing arrives swiftly after the company’s previous €25 million raise just months prior, demonstrating strong investor confidence.

What Does Ankorstore Do?

Ankorstore is developing a wholesale marketplace specifically designed for independent retailers. Many consumers are familiar with boutiques featuring curated selections of unique products.

These items often include things like home goods, gourmet foods, candles, accessories, and stationery. Ankorstore facilitates the sourcing of these products for shop owners.

How the Marketplace Works

The platform allows retailers to procure a diverse range of products, effectively acting as a curator for their customer base. Ankorstore provides beneficial terms even for businesses with existing brand relationships.

Retailers can consolidate purchases from multiple brands through a single platform. Furthermore, payment is not withdrawn from the retailer’s account until 60 days after the order is placed.

Conversely, brands on the platform receive payment promptly upon delivery of goods. A low minimum order value of €100 per brand makes the platform accessible even for new businesses.

Growth and Market Presence

Ankorstore’s key metrics are showing positive trends. Currently, the marketplace hosts 5,000 brands and serves 50,000 retail shops.

Further growth is anticipated as retail locations reopen across Europe and tourism rebounds. The company is currently operational in 14 different markets.

Notably, the majority of Ankorstore’s revenue is generated from international markets, exceeding income from its domestic market in France.

Future Potential

Co-founder Nicolas Cohen highlights the United Kingdom, Germany, the Netherlands, and Sweden as key areas for continued expansion. The total addressable market is considerable.

Ankorstore estimates there are 800,000 independent shops throughout Europe that could benefit from utilizing the platform. The success of similar wholesale marketplaces, such as Faire, indicates significant untapped potential within this emerging market.

Ankorstore is positioned to capitalize on this opportunity and further establish itself as a leading wholesale marketplace for independent retailers.