SellerX bags $118 million to buy and build Amazon brands

German startup SellerX has closed a seed round of $118 million.

This was led by Cherry Ventures, Felix Capital and Silicon Valley-based TriplePoint Capital, with participation from Village Global.

Angels with e-commerce backgrounds also joined, including Zalando co-founder David Schneider and Shutterfly CEO and former Amazon UK CEO Chris North.

SellerX buys up Fulfilment by Amazon shops, consolidates them, and turns them out with new branding and growth strategies. It acquired its first business at the end of the summer and expects to have an annual revenue run rate of €20 million by the end of the year.  

“The diverse seller landscape on Amazon provides a unique opportunity to acquire some category winning, highly profitable products, empower them through technology, and build them into next-generation consumer brands,” says Filip Dames, a founding partner of Cherry Ventures.

Sign up for our free retail technology newsletter here.