French B2B marketplace, Ankorstore, has successfully raised €25 million in its latest funding round. The start-up, which connects independent retailers with brand suppliers in various sectors like fashion, home decoration, and beauty, secured investments from private equity firms Global Founders Capital, Alven, and Aglaé Ventures, along with participation from new investor Index Ventures.

Ankorstore’s founders, Pierre-Louis Lacoste, Nicolas d’Audiffret, Nicolas Cohen, and Mathieu Alengrin, bring a wealth of expertise to the table. Lacoste was previously the country manager for Etsy in France, while d’Audiffret and Cohen founded A Little Market, a French e-marketplace specializing in handmade items. Alengrin previously served as the Head of Engineering at Vestiaire Collective.

What sets Ankorstore apart from other marketplaces is its innovative business model, aimed at simplifying collaboration between retailers and brands. The company offers solutions for streamlined payments, inventory management, and shipping costs, benefiting both parties involved. Additionally, Ankorstore has implemented retailer-friendly policies, such as a minimum order value of €100 and free shipping for orders over €300 from multiple suppliers. Payment terms are set at 60 days for financially stable retailers.

Martin Mignot, a partner at Index Ventures, expressed confidence in Ankorstore’s ability to help independent brands and retailers compete with larger online platforms. Currently, the company works with 15,000 multibrand retailers across nine European countries, showcasing products from over 2,000 brands.

Ankorstore believes that the ongoing Covid-19 crisis has increased the demand for its platform. Independent retailers have faced numerous challenges during this time, and Ankorstore aims to support their growth by providing a wide range of unique brands, favorable commercial conditions, and flexible payment terms.

The company sees vast potential in the European market, particularly in France, where there were 517,400 retail businesses in 2018, generating revenue of €1.420 trillion. By capitalizing on this localized market, Ankorstore hopes to revitalize and support independent retailers in the years ahead.

To learn more about Ankorstore, visit their official website here.

For more information about the latest funding round, read the article here.