Just two weeks after Ankorstore’s official launch, the Paris-based startup has closed their first round of funding at €6 million, led by Global Founders Capital, Alven and Aglaé Ventures. Over the next few months, Ankorstore plans to triple its workforce, by hiring developers, business developers and customer support.
Ankorstore, founded in 2019, is an online B2B marketplace that connects brands and designers with boutiques all over Europe. More specifically, they allow on-trend brands to sell through local businesses, and retailers to sell products that cannot usually be found on major e-commerce sites or via large retail chains.
By using the service, Ankorstore offers benefits for both retailers and brands. Retailers have the possibility to discover and select from thousands of brands in just a few clicks, benefit from 60-day payment terms, test sales with a low minimum order quantity, and take advantage of the constantly evolving tools offered by the platform. As for brands and creators, Ankorstore allows them to easily sell their products to stores all around Europe, benefitting from direct contact and returns with retailers, and payment upon delivery, solving any cash flow issues.
The startup has already attracted close to 1000 retailers and more than 300 brands have placed their trust in Ankorstore, which currently employs 10 people in Paris.
“It is very complicated today for a brand to distribute products offline throughout Europe, but it is also very difficult for brick-and-mortar stores to quickly find a selection of differentiating brands to compete with e-commerce. We wanted to simplify this experience, make it more virtuous and accessible to all, by allowing both brands and stores to gain in flexibility and efficiency,” Pierre-Louise Lacoste explains, co-founder of Ankorstore.
David Sainteff, Partner at Global Founders Capital, comments: “Retailers today are faced with fierce competition from e-commerce giants such as Amazon and do not have the digital tools to respond effectively. We were immediately seduced by Ankorstore’s mission: to offer innovative solutions that allow businesses to discover and order products best suited to their customers.”
Currently present in France, the platform already accepts brands from all over Europe and plans to rapidly expand internationally over the next few weeks, starting with Germany and Spain.