E-Commerce: Berlin-based startup SellerX raised over €100 million in seed financing led by Cherry Ventures, Felix Capital and Silicon Valley-based TriplePoint Capital with participation from Village Global

SellerX raises north of €100m to supercharge the next-gen e-commerce platform for consumer brands Seeking to elevate the seller experience, the Berlin-based startup acquires Amazon businesses and builds out more robust branding and growth strategies.

Berlin — 19 November 2020 — SellerX, the platform that acquires successful third-party Amazon sellers to accelerate their growth, announces today that it has raised over €100 million in seed financing led by Cherry Ventures, Felix Capital and Silicon Valley-based TriplePoint Capital with participation from Village Global. The new capital will go primarily towards acquiring businesses and hiring.

The round, which includes both equity and debt, is complemented by a suite of angels with highly relevant e-commerce backgrounds such as Zalando co-founder David Schneider, Shutterfly CEO and former Amazon UK CEO Chris North, and the founders of KW Commerce, one of the largest Amazon sellers in Europe.

Based in Berlin, SellerX buys and consolidates Amazon FBA (Fulfillment by Amazon) businesses across Europe and North America. SellerX acquired its first business at the end of the summer and expects to have a revenue run-rate of €20 million by the end of the year. SellerX ensures the further development of each business post-acquisition by providing unmatched operational, branding and growth expertise, areas where even the most successful FBA sellers need support. This seed financing also comes at a time when ecommerce is experiencing an unparalleled leap in adoption, especially on major platforms like Amazon.

The founders, Malte Horeyseck and Philipp Triebel, bring extensive industry and private equity experience, plus backgrounds building businesses in North and South America over the past decade. In Brazil, Malte founded Dafiti, an e-commerce business that grew to 3,000+ employees and €800M+ in revenue in 4 countries. Philipp, also a serial entrepreneur, previously worked with Goldman Sachs SSG and holds extensive PE roll-up experience.

“I am incredibly excited to embark on our mission to become Europe’s leading acquirer of Amazon businesses and leverage my extensive e-commerce experience,” said co-founder Malte Horeyseck. “Philipp and I are proud to have top tier VC funds Cherry Ventures, Felix Capital, and Village Global as well one of the leading venture finance firms TriplePoint Capital on board together with a selective group of angel investors.”

Filip Dames, founding partner of Cherry Ventures, said, “The diverse seller landscape on Amazon provides a unique opportunity to acquire some category-winning, highly profitable products, empower them through technology, and build them into the next-generation consumer brands. The founders Malte and Philipp combine decade-long e-commerce and buy-and-build expertise, which uniquely positions them to capture this opportunity.”

“Now powering 50% of global e-commerce, Amazon has become an indispensable part of modern commerce, driving a shift toward unlimited choice and convenience for consumers,”
said Antoine Nussenbaum, co-founder at Felix Capital. “It is also the playground for entrepreneurship and has democratized product innovation with now over 2 million vendors flourishing on their platform.”

The founders, who met at Harvard Business School, are returning home to Germany where SellerX is best positioned given the country’s e-commerce ecosystem and highly-relevant position as Europe’s largest market for Amazon.

About SellerX

SellerX is a Berlin-based startup that is building a diversified portfolio of Amazon sellers. We ensure a fair and fast sales process and make the entire experience as smooth for the seller as possible. Run by serial entrepreneurs, the SellerX team will comprise over 50 employees by the end of the year who understand the day-to-day challenges owners of Amazon businesses face. Please get in touch if you are interested in selling your Amazon business or want to join our growing team of e-commerce specialists and private equity roll-up experts. To learn more, visit www.sellerx.com

Cherry Ventures

Cherry Ventures is an early-stage venture capital firm led by a team of entrepreneurs with experience building fast-scaling companies such as Zalando and Spotify. The firm backs Europe’s boldest founders, usually as their first institutional investor, and supports them in everything from their go-to-market strategy and the scaling of their businesses. Cherry Ventures has previously invested in the seed stage of over 50 companies across Europe, including FlixBus, Auto1 Group, Infarm, DashDash, Forto, and TourRadar. Cherry Ventures is based in Berlin and invests across Europe with operations in London, Paris, and Stockholm. To learn more, visit www.cherry.vc

Felix Capital

Felix Capital is a London-based venture capital firm for the Creative Class, operating at the intersection of technology and creativity. Felix focuses on digital lifestyle, investing in emerging digital consumer brands and related enabling-technologies. The firm’s mission is to be a partner of choice for entrepreneurs with big ideas and help them build strong brands that stand out and move the world forward.

Since its launch in 2015, Felix has raised over $600m for early-stage and growth. Illustrative investments in Europe and North America include: Farfetch, an online marketplace for the fashion and luxury; Mirakl, a Saas platform for Marketplaces; Mejuri, a modern jewellery brand; Moonbug, a media platform for kids; Papier, a personalised stationery brand; HungryPanda, a food delivery business for the Chinese community; and Peloton, a fitness technology and subscription service.

TriplePoint Capital

TriplePoint Capital is a Sand Hill Road-based global financing provider to high growth venture capital-backed companies throughout their lifespan, providing customized debt financing, leasing, and direct equity investments. TriplePoint Capital provides unparalleled levels of creativity, flexibility and customer service to serve as the primary debt financing provider for leading venture capital-backed companies in the technology and other high growth industries and is the only debt provider equipped to meet the unique needs of high
growth venture-backed companies at every stage of their development. TriplePoint Capital trades as TPVC Global Credit in Europe. For more information, visit www.triplepointcapital.com.

Further Information:  www.sellerx.com

Image: Founders SellerX Malte Horeyseck and Philipp Triebel © SellerX

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