Mainfactor, a Philadelphia PA-based e-commerce company e-commerce company that buys, builds, and operates direct-to-consumer businesses, raised $69m.
The round, raised through a mix of seed round equity capital and a credit facility, was led by Upper90, joined by strategic investors including Khajak Keledjian, an entrepreneur and the Founder of Intermix, Gary Veloric, the Founder of Red Stripe Plane Group and Co-Founder of JG Wentworth, and Jean Pigozzi, a tech investor and renowned art collector.
The company intends to use the funds to acquire direct-to-consumer businesses and to grow them through digital marketing and collaborations with creators and artists.
Founded by Mike Fiebach, the founder and former CEO of the leading entertainment e-commerce and digital marketing company Fame House (now a part of Universal Music Group), Meredith Franzese who has years of experience in entertainment-driven roll-up businesses and consolidations, and Jamie Ross, a Shopify expert specializing in direct-to-consumer brand optimization, Mainfactor is building an e-commerce company powered by direct-to-consumer brands and creative collaborations.
The company plans to develop technology that will enable entrepreneurs to receive valuations and to exit their e-commerce businesses in an expedited manner.