(Image Source: TechCrunch)
Acquco was founded by Raunak Nirmal and Wiley Zhang, former Amazon employees who built multimillion-dollar businesses on the platform. The start-up aims to support third-party sellers and help them thrive. The New York City-based company has raised $160 million in its latest funding round to fuel its aggressive growth plans.
Acquco did not disclose its valuation but shared some significant facts. The company has scaled over $100 million in revenue since being founded while utilizing less than $2 million of equity in capital. Additionally, the startup has been profitable since its founding.
With the startup’s proprietary technology and its founders’ expertise, Acquo helps third-party sellers exit the businesses within a month and continue to take their businesses to the next level. They offer friendly and flexible deals to sellers and do not prevent them from returning to Amazon to sell again.
With its new capital, the startup is planning to enter “hypergrowth mode”. Its ambition is to scale its portfolio to over $500 million in revenue by 2022. The money will be used for technology development, brand acquisition, and human resources expansion.
Amazon’s third-party seller ecosystem holds great potential with $200 billion in revenue that grows at a compounded annual growth rate (CAGR) of over 50%. The understanding and expertise of Acquco’s founders have of this platform are also undeniable advantages that make Acquco a good investment.
“We’ve been begging him to take more money every three months since writing our first check. Raunak is able to help buy businesses and make them better than they ever were before. He has a vision of how to operate these assets post-purchase that other operators who are not Amazon-native just don’t have.” – Ali Hamed, CoVenture Founder