Massachusetts-based Thrasio keeps bringing in the investor bucks. This time around, it’s $750 million in an “equity round” funded mostly by existing investors, including Oaktree and Advent.
“The $750 million in fresh capital was raised efficiently — diluting existing shareholders by just 11.1 percent,” according to a press release. The cash has arrived on the heels of Thrasio’s January announcement of $500 million in debt financing led by J.P. Morgan Chase Bank, Goldman Sachs, BlackRock, Barclays, UBS, Credit Suisse, Oaktree and RBC.
“Thrasio continues its exceptional growth,” said Co-founder and Co-CEO Joshua Silberstein. He added that the new funding would help Thrasio speed up its acquisition activities.
“In 10 years, omnichannel retail will be the backbone of the entire consumer products ecosystem — but today, it’s still in its genesis,” said Co-founder and Co-CEO Carlos Cashman. “Our balance sheet isn’t built to win yesterday’s battles — it is designed to pursue the accelerating opportunities that accompany these kinds of seismic changes in an industry.”
Venture capital cash has been flowing to companies that buy up marketplace sellers on Amazon and help them grow. In particular, such deals have targeted companies in the Fulfillment by Amazon program, in which the eCommerce giant warehouses a company’s products and then takes care of packing, shipping and providing customer service.
Last November, for example, Berlin-based SellerX landed 100 million euros ($118 million) of financing, Also attracting investors to companies in the market for acquiring Amazon-related sellers: Berlin-based Razor Group, which raised $26.7 million in venture capital, and FBA Heroes, which netted $65 million. In addition, Thrasio raised $260 million in July.
Thrasio said that its latest round of funding was “oversubscribed.” With the new funding, the company said it has now raised a total of $1.75 billion since its launch. Thrasio “is expanding globally with an international team of over 700 employees and contractors … and has just expanded its European operations with hubs in Germany and the U.K.,” the release stated.
“We’re trying to be the company that understands what’s happening the fastest, and uses the market change as a cauldron where we can quickly experiment, figure out what’s working and develop ways of doing things that are better than what other people can do,” Silberstein said last summer.
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