Led by Tiger Global Management, other new backers included DST Global and Sequoia, along with existing investors Andreessen Horowitz, Kleiner Perkins, Khosla Ventures, General Catalyst and Thrive Capital. This is a big jump on its previous round, two years ago, that valued it at $9 billion. Stripe has raised $245 million, valuing the company at $20 billion. Insider first reported back in April that Ankorstore was in talks to raise fresh funding from Tiger Global.Payments startup Stripe has changed the landscape for how businesses can collect funds online by using a few lines of code, and today the company is announcing that it’s picked up more funding of its own. Tiger has taken part in over 100 rounds so far this year and is currently working on securing a new record $10bn tech investment fund. “The incredible adoption over the last eighteen months speaks to an experienced team providing real and timely value to its customers.” John Curtius, partner at Tiger Global, said Ankorstore had “quickly become the clear solution in Europe for local retailers to source from independent brands.” "What is great and very promising is to see the level of ambition growing among the French entrepreneurs who are no longer satisfied with building great local companies." Tiger Global "France has now reached an inflection point and we are now garnering the investments required to compete on the global stage," says D’Audiffret, cofounder of Ankorstore. The city attracted $3.4bn of investment in 2020 and has seen $11.7bn invested cumulatively since 2016. The record year also saw Paris, where Ankorstore is based, secure its title as Europe’s number two hub in terms of investment after London. It was the only one of Europe’s three largest markets (the UK, Germany and France) to grow in 2020, exceeding $5bn invested in a year for the first time. Overall, France has seen strong growth in investment into its startups in recent years. If smaller shops are to survive, tech like Ankorstore could be part of levelling the playing field between them and the retail giants. Taking on AmazonĪnkorstore has said their mission is to empower local retailers to compete with the likes of Amazon.Īs small shops face existential threats brought on by the pandemic, Amazon's profits continue to rise, with its net profit soaring 84% last year compared to 2019. The company now supplies 50k shops across France, Spain, Austria, Germany, Holland, Switzerland and Luxembourg - and it expanded to the UK earlier this year. The company, founded in 2019, runs an online marketplace where up-and-coming brands can sell directly to independent shops, allowing them to sell more varied stock and be more agile with the products they’re choosing.Īnkorstore’s raise comes as French startups continue to see increasing investment after a record year last year - and as Europe as whole continues to benefit from Tiger’s global spree.ĭespite many retailers being closed due to the pandemic, Ankorstore’s business tripled across the first four months of 2021.
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