SellerX secures major funding round

Bloomberg has reported that Berlin-based start-up SellerX has raised 117 million dollars in funding led by LMVH-backed investment firm L Catterton.  This is the largest such sum announced in a funding round by a Europe-based Amazon FBA aggregator. SellerX will be using the latest round of funding to acquire brands sold by Amazon.com and Shopify.

SellerX only just launched in 2020, but since then, they have acquired over 30 e-commerce brands. SellerX wants to use the investment to acquire more brands over the next year. To date, the company employs over 250 employees in Berlin, London, and Miami.

SellerX is betting on the the launch of start-ups and the growth of direct-to-consumer brands. Shopify sellers seem to be the cash cow for SellerX right now and where they would like to keep their focus. In addition to L Catterton, participating investors included Sofina, Cherry Ventures, Felix Capital, and 83North.

“Money raised in financing rounds in this space is typically heavily debt based,” said SellerX co-founder Philipp Triebel in a statement. “What’s so exciting about this round is that all of the 100 million euros 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.”

In a statement, Christopher North, managing partner of L Catterton’s Growth Fund, said, “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.”