Berlin-based SellerX, one of many troop of ‘Amazon aggregator’ startups which have launched prior to now yr or so, has raised a €100m Sequence B. It’s the most important fairness spherical raised by a European startup on this sector to date — and comes simply 12 months after the enterprise launched.
The funding was led by consumer-focused non-public fairness agency L Catterton (additionally an investor in Cazoo, Peloton and Freetrade), with Sofina and former traders Cherry Ventures, Felix Capital and 83North additionally taking part.
Like its competitors, SellerX buys corporations which can be promoting the whole lot from soaps to telephone chargers to backyard rakes efficiently on Amazon. Thus far, SellerX has over 30 manufacturers throughout a variety of verticals, from artwork and pet provides, to health and DIY instruments. With the brand new funding, it can proceed to purchase up manufacturers in Europe, the US and China.
Buyers have flocked to again these companies, hoping to seek out the Proctor and Gamble of the following era. In 2020, $1bn was invested within the aggregator trade, globally. Thus far in 2021, these startups have raised €475m in debt and fairness.
This one’s an fairness spherical
This spherical brings SellerX’s complete funding as much as €227m — in debt and fairness — and makes it the third-most funded participant in Europe.
It has loads of competitors. In Europe alone, there are at least 21 ecommerce aggregators, in line with Dealroom, with an estimated 40 Amazon aggregators worldwide. 19 of those 21 corporations have launched since 2020.
Fellow Berlin-based Amazon aggregator Razor launched in August 2020 and has since raised €362.3m in total — together with a €100m debt spherical in Could 2021. It’s additionally seen headcount develop 174% in six months, virtually tripling its crew from 46 staff in January to 126 in July.
Equally, Berlin-based Branded, which acquires high Amazon sellers, solely launched in October 2020 however has raised €136m in complete funding to date. Its headcount has additionally almost quadrupled from 28 in December, to 103 in July.
SellerX is among the fastest-growing startups on this house, having expanded from 46 staff in February 2021, to over 250 in August — a 443% progress price.
Globally, these aggregators are following the footsteps of US-based Thrasio, which launched in 2018 — and has landed a whopping €1.1bn in funding to date. Business veteran Berlin Manufacturers Group (BBG), which was based in 2005, has additionally raised $240m in complete — and has considerably expanded, with 900 employees as of 2021.
In the course of the pandemic, European ecommerce grew 2-5x compared to pre-pandemic levels, and is anticipated to be value $465bn in 2021. With the decline of excessive road retailers, an estimated 506m Europeans have turned to online shopping — a determine that’s solely forecasted to develop.
Riddhi Kanetkar is an editorial intern at Sifted. She tweets from @r1ddhi