Benitago Group, a New York and London, UK-based e-commerce brand incubator and aggregator, raised $325M in Series A funding.
The round was led by CoVenture with additional funding from HSBC UK. Following an initial $55m raise in early 2021, the Series A brings the company’s total funding to $380m.
The company intends to use the funds to further build out its product development studio, scale its acquisition of Amazon brands and continue the expansion of its brand portfolio across various platforms and channels.
Founded by Santiago Nestares and Benedict Dohmen in 2016, Benitago provides an e-commerce brand incubator and aggregator focused on creating and acquiring brands optimized for sustainable growth on e-retailer marketplaces such as Amazon. The company leverages search trends and sentiment data to identify product categories projected to see heightened demand on these platforms or niches ripe for disruption. It then elects whether to build relevant product offerings in-house or engage in the strategic acquisition of an existing brand.
Since inception in 2016, the company has developed ten brands and over 300 products in-house, acquired nearly a dozen third-party brands, and raised $380 million
FinSMEs
23/11/2021