Largest Equity Funding Round for a European FBA Aggregator Announced as SellerX Raises €100 ($118) Million Led by L Catterton's Growth Fund
SellerX Becomes One of Europe's Fastest Growing Companies Going from Zero to 250+ Employees in the First Year of Operation
BERLIN, Aug. 12, 2021 /PRNewswire/ -- SellerX, Europe's leading aggregator of third-party e-commerce businesses, announced today it has raised €100 ($118) million in primary equity funding, the largest such sum announced in a funding round by a Europe-based Amazon FBA aggregator. The investment marks an exciting new strategic partnership for the company being led by the Growth Fund of L Catterton, the world's largest consumer-focused private equity firm. Additional participants include Belgian investment company Sofina, as well as existing investors Cherry Ventures, Felix Capital, and 83North.
In its short 12 months of operation, SellerX is delivering on its mission to acquire and scale third-party Amazon FBA and other e-commerce businesses and grow them into category-winning brands. The company has already raised almost a quarter of a billion EUR in debt and equity, and has gone from zero to 250+ employees centered around hubs in Berlin, London, and Miami. It currently incorporates 30+ evergreen brands across diversified verticals. With its aggressive approach to hiring top talent, SellerX is able to apply strong operational expertise to manage and scale its portfolio of brands. It invests in deep market research, as well as innovative technology platforms to enable successful product launches, growth via new channels, and expansion into new markets.
"Money raised in financing rounds in this space is typically heavily debt based," said SellerX co-founder Philipp Triebel. "What's so exciting about this round is that all of the €100 million is equity. It puts us in an incredibly strong position to raise further debt and to keep building our portfolio by acquiring the best Amazon sellers in Europe, the US, and China."
The calibre of the new investors is another decisive win for SellerX, as co-founder Malte Horeyseck explained: "L Catterton has unmatched expertise in the consumer goods sphere. This will be invaluable to us as we continue to grow. Together, we have an opportunity to cement our place in the future of consumer products."
Christopher North, managing partner of L Catterton's Growth Fund, added: "We see tremendous opportunity in the SellerX model. Philipp and Malte have impressed us with their vision, ambition, and aptitude for finding and investing in lasting franchises. The leadership position they have achieved only one year after launching SellerX is truly remarkable. We believe that SellerX is well-positioned not only to continue its category leadership, but also to establish an innovative new model for the future of consumer goods globally."
L Catterton has significant experience investing globally in fast growing, disruptive digital brands. Current and former investments include Better Mortgage, Vroom, Peloton, ClassPass, Tonal, Hydrow, Cazoo, Freetrade, Savage X Fenty, Hungryroot, Tula, Eco, and Public Goods.
About L Catterton
With approximately $30 billion of equity capital across its fund strategies and 17 offices around the world, L Catterton is the largest global consumer-focused private equity firm. L Catterton's team of nearly 200 investment and operating professionals partners with management teams around the world to implement strategic plans to foster growth, leveraging deep category insight, operational excellence, and a broad partnership network. Since 1989, the firm has made over 250 investments in leading consumer brands. For more information about L Catterton, please visit lcatterton.com.
About Sofina
Sofina is a family owned and run investment company listed on Euronext Brussels, managing its own assets of circa €10 billion. Sofina aspires to be the preferred partner of entrepreneurs and families who lead growing companies by backing them with patient capital and supportive advice. Common vision and strong alignment of interests with its partners are paramount in the deployment of its strategy. For more information, visit www.sofinagroup.com.
About SellerX
SellerX was founded in September 2020 by Harvard Business School graduates Malte Horeyseck and Philipp Triebel with the backing of top investors. It quickly became a leading acquirer of third-party brands on the Amazon marketplace in Europe bringing 30+ brands under its umbrella in under a year. The company's goal is to be the Buyer of Choice for top Amazon FBA and other e-commerce sellers and to establish itself as a global leader in direct-to-consumer products.
Contacts
L Catterton
Andi Rose / Kate Thompson
Joele Frank, Wilkinson Brimmer Katcher
+1 212-355-4449
Sofina
Wauthier de Bassompierre
[email protected]
SellerX
Tess McGowan
+49 30 3977 0997
[email protected]
www.sellerX.com
SOURCE SellerX
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