Firms acquiring successful brands on Amazon have attracted more than $12 billion in capital raised. They are known as Amazon seller aggregators. The market had a breakout year in 2020 because of three factors: the pandemic accelerating spending on Amazon, Thrasio raising hundreds of millions of dollars, and Anker, an Amazon-native brand, going public.
There are 87 active Amazon aggregators. 43 aggregators have announced funding rounds, of which 29 raised at least $100 million. Most aggregators are based in the United States; however, there are also companies operating in Belgium, Canada, China, Finland, France, Germany, India, Israel, Japan, Luxembourg, Mexico, Portugal, Singapore, Spain, Switzerland, The Netherlands, Turkey, UAE and United Kingdom.
| Company | Headquarters | Capital Raised |
|---|---|---|
| Thrasio | Walpole, MA | $3.4 billion |
| Berlin Brands Group | Berlin, Germany | $1.3 billion |
| Perch | Boston, MA | $908 million |
| Heyday | San Francisco, CA | $800 million |
| Razor Group | Berlin, Germany | $572 million |
| Merama | Mexico City, Mexico | $385 million |
| Benitago Group | New York, NY | $380 million |
| Boosted Commerce | Los Angeles, CA | $380 million |
| Elevate Brands | New York, NY | $372 million |
| Unybrands | Miami, FL | $325 million |
| SellerX | Berlin, Germany | $267 million |
| Heroes | London, United Kingdom | $265 million |
| Mensa Brands | Bangalore, India | $218 million |
| factory14 | Luxembourg | $200 million |
| Growve | St. Petersburg, FL | $175 million |
| Accel Club | Amsterdam, The Netherlands | $170 million |
| Olsam Group | London, United Kingdom | $165 million |
| Acquco | New York, NY | $160 million |
| Moonshot Brands | Oakland, CA | $160 million |
| Branded | Paris, France | $150 million |
| Cap Hill Brands | Seattle, WA | $150 million |
| Global Bees | New Delhi, India | $150 million |
| Suma Brands | Minneapolis, MN | $150 million |
| Forum Brands | New York, NY | $127 million |
| D1 Brands | New York, NY | $123 million |
| Intrinsic | New York, NY | $115 million |
| Nebula Brands | Beijing, China | $106 million |
| Foundry | Austin, TX | $100 million |
| The Stryze Group | Berlin, Germany | $100 million |
| Dwarfs | Amsterdam, The Netherlands | $80 million |
| Valoreo | Mexico City, Mexico | $80 million |
| Rainforest | Singapore | $56 million |
| Gravitiq | London, United Kingdom | $55 million |
| Una Brands | Singapore | $55 million |
| Profound Commerce | Austin, TX | $53 million |
| UpScalio | Gurgaon, India | $42 million |
| 10club | Bangalore, India | $40 million |
| G.O.A.T Brand Labs | Bangalore, India | $36 million |
| TCM Digital | Herzliya, Israel | $28 million |
| Opontia | Dubai, UAE | $20 million |
| Wonder Brands | Mexico City, Mexico | $20 million |
| Forest | Tokyo, Japan | $8 million |
| Telos Brands | San Francisco, CA | $2 million |
The capital pouring in is validating the Amazon marketplace as something serious. The businesses that sell on Amazon have grown mainly relying on measurable demand, controllable unit economics, and the predictability the data-rich marketplace provides through tools like Jungle Scout, Helium 10, and others. The firms rolling up those businesses use the same principles to evaluate and value them and grow them post-purchase. The types of companies those firms are looking to acquire are most often private-label sellers that use Amazon as one of their primary sources of distribution (some are also looking at brands using Shopify). There is no demand for resellers, nor do other marketplaces play a significant role.
- November 2021. Amsterdam-based Accel Club raised a $170 million Series A
- November 2021. Forest bags $8M seed round to acquire Japanese e-commerce brands
- November 2021. E-Commerce Aggregator Benitago Group Raises $325 Million
- November 2021. Berlin Brands Group Raises $100 Million
- November 2021. Gravitiq raises $55 million Seed round
- November 2021. Heyday raises $555M to buy up and scale more D2C brands on the Amazon marketplace universe
- November 2021. India’s Mensa Brands raises $135 million Series B
- November 2021. Elevate Brands scores $55 million cash infusion to continue growth
- November 2021. Berlin’s Razor Group raises $125M at a $1B+ valuation
- November 2021. Una Brands raises $15M Series A five months after its launch
- October 2021. Thrasio Raises $1 Billion in Funding Led by Silver Lake
- October 2021. Profound Commerce raises $53 million to acquire and turbocharge e-commerce brands
- September 2021. Merama raises $225 million Series B from Advent, SoftBank
- September 2021. Thrasio Adds $650 million in Debt Facility to Fuel Rapid Growth
- September 2021. Telos Brands Raises $2.1M in Seed Funding From Picus Capital
- September 2021. E-commerce aggregator Rainforest raises $20M just months after its last funding
- September 2021. Dwarfs attracts €30 million in debt financing
- September 2021. Berlin Brands Group raises $700M as Bain takes stake
- September 2021. Forum Brands secures $100M in debt financing to acquire more e-commerce brands
- August 2021. Olsam raises $165M to buy up and scale consumer and B2B Amazon Marketplace sellers
- August 2021. UK-based Heroes raises $200M to buy up more Amazon merchants for its roll-up play
- August 2021. Amid talks with Tiger Global, Mensa Brands raises $33 Million
- August 2021. D1 Brands Raises $123 Million In Latest Funding For Amazon Aggregators
- August 2021. UpScalio raises $42.5 million in funding
- August 2021. Wonder Brands picks up $20M, aims to build marketplace of Latin American e-commerce brands
- August 2021. Amazon aggregator SellerX raises €100m in equity funding
- August 2021. Suma Brands raises $150M to acquire more third-party brands for its Amazon roll-up play
- July 2021. Nebula Brands - China’s First Amazon Aggregator Raises $106 Million
- July 2021. GOAT Brand Labs raises $36 million from Tiger Global, Flipkart Ventures, Mayfield
- July 2021. Valoreo raises $30M more to acquire e-commerce brands across LatAm
- July 2021. India’s GlobalBees raises $150 million to build Thrasio-like house of brands
- July 2021. Unybrands brings in $300M to acquire more e-commerce businesses
- July 2021. Elevate Brands banks $250M to roll up third-party merchants selling on Amazon’s marketplace
- July 2021. Foundry Launches To Grow Enduring Omni-Digital Brands, Raises $100 Million of Long-Term Private Equity Capital
- July 2021. Boosted Commerce has raised $380M in capital
- June 2021. Forum Brands Secures $27M in Equity Funding
- June 2021. 10club raises $40 million seed funding to build Thrasio of India
- June 2021. Y-Combinator-backed tech startup Moonshot Brands emerges from stealth with $160M in funding
- June 2021. Intrinsic Launches with $113M in Series A to Acquire Amazon Centric Brands in the Health & Wellness Category
- June 2021. Opontia raises $20M to roll up e-commerce brands in Africa and the Middle East
- May 2021. Ananth Narayanan’s Thrasio-Styled Startup Mensa Brands Raises $50M In Series A Funding
- May 2021. Growve Plants $175M Credit Facility To Seed, Acquire Wellness, Beauty Brands
- May 2021. Perch Raises $775 Million As Race To Acquire Amazon Sellers Heats Up
- May 2021. factory14 raises $200M to jump into the Amazon marketplace roll-up race
- May 2021. Amazon Marketplace Accelerator Heyday Raises $70 Million In New Funding Round
- May 2021. The Dutch e-commerce scaleup Dwarfs raises €7.5M series A and €30M in venture debt
- May 2021. Led by ex-Amazonians, Acquco raises $160M to buy and scale e-commerce businesses
- May 2021. Rainforest gets $36M to consolidate Asia-Pacific Amazon Marketplace brands
- May 2021. Berlin’s Razor Group raises $400M to buy and scale Amazon Marketplace merchants
- April 2021. Armed with $160M in funding, LatAm’s Merama enters the e-commerce land grab
- April 2021. Berlin Brands Group raises $240 million in debt for e-commerce deals
- April 2021. Elevate Brands Raises Additional $12.5M in Funding
- April 2021. Thrasio raises $100M for its Amazon roll-up play
- March 2021. Benitago Group raises $55M in combined debt and equity to buy and grow Amazon brands
- March 2021. SellerX raises €26m as Amazon aggregator industry hots up
- March 2021. ALSTIN Capital with Upper90 fuel the growth of The Stryze Group with up to $100 Million seed funding
- March 2021. Boosted Commerce Adds $50 Million to Available Capital
- February 2021. $55 Million Investment Fuels Elevate Brands’ Acquisition Strategy
- February 2021. Technology Commerce Management (TCM) Announces $28 Million Round of Funding
- February 2021. Unybrands Closes $25M Seed To Acquire, Scale Online Brands
- February 2021. Valoreo closes on $50M to roll up LatAm e-commerce brands
- February 2021. Target Global leads $150M round for Amazon Marketplace consolidator Branded
- February 2021. Thrasio gets $750M for its Amazon third-party seller gambit
- January 2021. Intrinsic raises $2M seed round
- January 2021. Berlin Brands Group commits €250 million to acquire D2C and Amazon merchants
- January 2021. Razor Group raises additional €10 million from old investors
- January 2021. Former Zulily execs raise $150M for new firm Cap Hill Brands
- January 2021. Thrasio Grabs Another $500 Million To Fuel Shopping Spree Of Amazon Sellers
- November 2020. SellerX Raises $118M to Buy Up and Grow Amazon Marketplace Businesses
- November 2020. Heyday Raises $175 Million to Buy Amazon Businesses
- November 2020. Razor Raises €25 Million to Acquire and Scale Amazon Brands
- November 2020. Heroes Raises $65M in Equity and Debt to Become the Thrasio of Europe
- October 2020. Perch Raises $123.5M to Grow Its Stable of D2C Brands That Sell on Amazon
- September 2020. Boosted Commerce: $87 Million Funding and Acquisition of Six Amazon Fulfillment Companie
- August 2020. Razor Raises €4 Million Seed Round
- July 2020. Thrasio Raises $260M, Reaches Unicorn Status With $1B Valuation
- April 2020. Thrasio Raises $100 Million in Fresh Capital
- April 2020. Perch Raises $8M to Acquire Top Performing ‘Fulfillment by Amazon’ Products and Companies
Amazon-dependency is both the most significant risk and the fuel that powers those firms. But there are dozens of additional challenges yet to be resolved. For example: transferring the scrappiness of a one-person seller to an employee of a firm, long-term risk of brands on Amazon, building a brand vs. being operationally efficient, buying brands vs. building brands in-house, avoiding suspensions, and others. Money for most of those firms came first; they will spend the next year figuring out the model that could work and scale.
