Suma Brands announces $150m Series A funding round

Suma Brands, which acquires brands selling and fulfilling their orders via Amazon, has bagged $150 million in funding in a Series A round headed up by Pace Capital and Material alongside a credit facility led by i80 Group.

The company launched last year and has been operating in stealth mode.

It will use the newly raised capital to accelerate its pace of acquisitions of Amazon FBA businesses and expand its portfolio of e-commerce brands.

It also intends to continue investing aggressively in its operating platform for growing acquired marketplace brands into household names.

“We’re seeing founders of Amazon FBA businesses lay the groundwork for some amazing consumer brands and we’ve been really impressed with what they’ve accomplished,” says Co-founder and CEO Andrew Savage.

“We’re thrilled to reward founders for what they’ve built and leverage our enterprise-level e-commerce platform to scale their brands to the next level.”

“We vetted a number of potential investments in the space, but hadn’t found the right team until we talked to Suma,” says Jordan Cooper, General Partner at Pace Capital.

Asher Hochberg, Managing Director at i80 Group, adds: “Winners are going to be exceptional operators, and the Suma team from the co-founders on down have e-commerce operations in their DNA.”

“They’re a tested team who have proven their ability to rapidly scale e-commerce businesses.”