Acquco Raises $160M in Series A Funding

Acquco

Acquco, a NYC-based platform focused on acquiring third-party sellers on Amazon, closed a $160m Series A funding.

Backers included:

  • CoVenture,
  • Singh Capital Partners,
  • Crossbeam, and
  • Aman Bhutani (GoDaddy, CEO).

The company intends to use the funds to scale its portfolio to over $500m of revenue by 2022 and continue building its technology platform.

The Untapped Potential

Consumer purchasing behavior has meaningfully shifted to online channels, with ecommerce penetration increasing more in 2020 than it has over the prior five years. Amazon has been the largest beneficiary of this trend, and is estimated to capture 40% of all ecommerce activity in the U.S. While the majority of Amazon sellers have benefited from these tailwinds, millions of successful sellers have also naturally reached a “growth wall” and do not possess the capital or broader expertise to scale their business further. This is where Acquco steps in.

Founded by Raunak Nirmal and Wiley Zhang, Acquco leverages technology to automate management and generate efficiencies for all operational functions, from Brand Management to Supply Chain. Its proprietary algorithms analyze thousands of criteria sets and millions of data inputs to inform key operating decisions across the portfolio. Additionally, Acqcuo has built technology servicing other core functions of the company, including Sales and Acquisitions to source untapped deal flow, automate due diligence, and rapidly onboard brands.

FinSMEs

21/05/2021