Thrasio, which acquires third-party Amazon businesses, raised an additional $500M in debt, bringing its total funding to more than $1B. The startup is the largest Amazon seller "rollup," a platform company that acquires or "rolls up" other companies in the same industry to create greater scale.
- Thrasio buys up Amazon third-party and private-label businesses, as well as other direct-to-consumer e-commerce brands, and merges them into its own digital consumer goods platform. It surpassed $500M in sales and $100M in profits during 2020.
- It plans to use the new funding to acquire more companies, including businesses with higher revenues (up to $200M).
- Most of Thrasio's $1B was raised over the past six months. The $500M senior debt facility provides the startup with "significant firepower to continue its aggressive deal-making spree," according to Forbes.
- The debt financing was led by JPMorgan Chase Bank, The Private Credit Group of Goldman Sachs Asset Management, and RBC Capital Markets, with participation from Bain Capital Credit, Barclays, BlackRock, BofA Securities, and others.