Berlin-based SellerX, a company that buys and builds Amazon businesses, announced it has raised approximately $500M (approx €442.48M) in a debt and equity round of funding. With this funding, the company claims to have achieved the status of a unicorn on a pre-money basis and has raised more than $750M to date.
The funding comes after the company’s previously announced €100M equity round in August, 2021, which was led by the Growth Fund of L Catterton.
The current round was led by Belgium-based investment company Sofina, funds and accounts managed by BlackRock, and Victory Park Capital, with participation from a wholly owned subsidiary of the Abu Dhabi Investment Authority (ADIA) and existing investors.
How will funds be utilised?
The company claims the new funds will be used to fuel growth, support additional acquisitions and further build out SellerX’s operational infrastructure and systems.
SellerX co-founder Philipp Triebel says, “This is a pivotal time for SellerX. The additional funding will allow us to continue bolstering our portfolio with the best Amazon sellers around the world and fuel our ongoing growth through technology and infrastructure investments across the business. As we reflect on the tremendous progress we have made since our inception only 14 months ago, this funding marks an important milestone for SellerX and we could not have accomplished this achievement without the dedication of our team.”
Acquires KW-Commerce
SellerX also announced the acquisition of KW-Commerce, a private label seller on Amazon worldwide with more than $100M in revenues.
Founded in 2012 by Jens Wasel and Max Kronberg, KW-Commerce houses successful proprietary brands like kwmobile, kalibri, and Navaris under one roof. It serves over 8 million customers annually across more than 190 countries.
Currently, the company has 22,000 active products and leverages its own fulfillment model and infrastructure in Asia and Europe. It has 450 employees that operate in five primary markets including EU, UK, USA, Canada, and Japan.
Jens Wasel and Max Kronberg, founders and co-CEOs of KW-Commerce, says, “Through our conversations with SellerX, it was clear that they are the right partner to support our continued growth. We believe that by bringing together our extensive private label assortment and mature global supply chain with SellerX’s considerable M&A and integration experience, we will be better positioned to capitalise on the immense opportunities ahead.”
Once the acquisition is completed, SellerX will have acquired more than 40 brands across Europe and North America since its inception in September 2020. Also, with the addition of KW-Commerce, SellerX will have over 25,000 products in its portfolio and 11 offices across Europe, Asia and the US.
The development will see KW-Commerce founders Jens Wasel and Max Kronberg join the SellerX senior leadership team as Managing Directors.
SellerX co-founder Malte Horeyseck says, “KW-Commerce’s well-established operational footprint, including a 70-person sourcing team in Hong Kong and international warehouse infrastructure, will help us create a resilient and flexible supply chain. Jens, Max and the rest of the talented leadership team’s experience and successful track record scaling brands organically on Amazon’s Marketplace is unmatched.”
About SellerX
SellerX was founded in 2020 by two HBS graduates – Malte Horeyseck, who built an e-commerce business to $1B+ in revenue as co-founder, and Philipp Triebel, a former Goldman Sachs SSG with extensive PE roll-up experience.
SellerX was founded with the backing of top investors. It quickly became a leading acquirer of third-party brands on the Amazon marketplace in Europe and the US, bringing more than 40+ brands under its belt 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 an innovative new model for the future of consumer goods globally.
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