(Image Source: Bloomberg)
Berlin-based startup and Amazon aggregator, SellerX raised €100m in Series B. The startup is one of the e-commerce aggregators with an outstanding growth rate after just 1 year of operations.
This funding round was hosted by private equity firm L Catterton and Sofina along with previous investors such as Cherry Ventures, Felix Capital and 83North.
As an Amazon aggregator, SellerX purchases successful Amazon merchants. So far, SellerX has acquired over 30 brands ranging from art to pet supplies, fitness and DIY tools. The industry is highly competitive and has received $1bn of investment in 2020.
In Europe, there are at least 21 aggregators and there are around 40 Amazon aggregators worldwide. Most of the companies are young and have only launched in 2020. SellerX is one of the fastest-growing players in the market. The total headcount of the startup has expanded from 46 in February 2021 to 250 in August, a 443% growth rate.
The e-commerce sector is expected to grow substantially in the next few years, after 2.5x growth in the pandemic and will be worth $465bn in 2021. With the new funding, SellerX will buy more brands in Europe, the US and China.