Founded by former employees of American online retailer Etsy, Ankorstore has successfully raised a record 250 million euros in funding. The FrenchTech nugget sees its valuation exceed one billion euros and becomes France's 24th unicorn.
Ankorstore: a unique marketplace
Ankorstore was founded in September 2019 by 4 e-commerce entrepreneurs. Of these, 3 worked at Etsy, a publicly listed marketplace, while the fourth proved his worth at Vestiaire Collective, a marketplace specializing in second-hand luxury fashion. A team that was bound to work well.
Ankorstore's initial ambition, which is still valid today, was to become a reference point for entrepreneurs, by entrepreneurs, for entrepreneurs. The marketplace puts independent retailers in touch with a wide range of suppliers, enabling them to expand their assortment more easily. These suppliers include major fashion, beauty and grocery brands.
The revenge of small retailers
Until now, there have been very few ways for brands to gain visibility. One of them, and not the least, was Google referencing. This requires not only digital marketing skills, but also the allocation of an often substantial budget. Resources that some independent retailers just don't have. That's where Ankorstore comes in. The marketplace offers the tools you need to gain the visibility and notoriety you need , at a cost 10 to 20 times less expensive.
The young unicorn also offers independent retailers orders in small batches, with reduced shipping costs and easier cash flow. These are major obstacles for independent retailers, who represent a huge market.
In the words of Nicolas d'Audiffret, one of the co-founders, "What pleases us is that we're continuing to energize the independent retail sector. We often tend to underestimate it, but this market is bigger than Amazon.". In other words, Ankorstore is the revenge of small retailers against the leaders in online retailing, notably Amazon.
Dazzling growth
The French retail nugget has grown rapidly since its creation in 2019. Unstoppable, even the health crisis has had no impact on its development. Today, Ankorstore has established itself as a BtoB champion. To date, the marketplace has forged links with over 30,000 brands and 300,000 independent retailers in more than 33 countries, including Germany, Spain, Sweden and the Netherlands.
The French marketplace has also carried out a number of fund-raising operations that have fueled its growth: 6 million in 2019, 25 million in 2020, 84 million in 2021 and finally the record... 250 million euros in 2022. This latest fund-raising enabled it to reach a valuation of 1.75 billion euros and join the private club of unicorns.
Today, Ankorstore continues to grow around the world, taking on giants such as Amazon and eBay.
Ankorstore: key information
Number of employees to date
By 2022, the company had over 450 employees. This figure is set to more than double, as the unicorn plans to reach 1,000 to 1,500 employees by 2023.
Sales figures
Ankorstore's sales are not known. However, the company has raised several rounds of financing since its creation. In January 2022, Ankorstore completed its biggest fund-raising: 250 million euros.
Going public
Ankorstore is not listed on the stock exchange, and according to Nicola Cohen, co-CEO and co-founder, "there are no plans for an IPO".
Scalability
The robust, automated platform designed by Ankorstore has conquered not only the French market, but also markets abroad. Thanks to a cautious growth strategy, the company has been able to consolidate its position in its initial market - France - while exploring new growth opportunities. This strategy has enabled the brand to forge links with brands and retailers in over 33 countries.
Mantra/Citation CEO
"Our mission is to give power back to independent retailers by shaking up the rules of the retail game." - Nicolas Cohen, co-CEO and co-founder of Ankorstore.
