Latest News

Heroes Rakes in $200M for eCommerce Growth

U.K.-based eCommerce platform Heroes on Wednesday (Sept. 1) announced it raised $200 million through a funding round led by investment firm Crayhill Capital Management. The money will be used to fuel Heroes’ growth and help it to acquire and build consumer brands around the world, according to an announcement.

Heroes has built the company across the U.K., European Union, North America and Asia, amassing a fleet of consumer brands available through Amazon’s global marketplaces on the backs of several acquisitions in the baby, pets, sports, personal health and home and garden categories, among others.

Heroes currently has 70 employees who work in operational jobs, such as supply chain, logistics, brand management, marketing and technology. The firm is looking to double its workforce by the end of this year, per the announcement.

“We’ve achieved incredible growth since our launch in October 2020 and we are excited to be partnering with Crayhill Capital Management to support us on the next phase of our journey,” said Riccardo Bruni, co-founder, in the company announcement. “By adding this significant amount of capital, we now have a high level of flexibility in executing on our growth plans and significantly expand and further diversify our brand portfolio.”

He added, “We look forward to continuing our work with the new wave of outstanding entrepreneurs to give them a fast, seller-friendly and reliable way to sell their business, so they can reap the fruits of the hard work they have put into building their brands.”

Related: Brand Aggregators, Accelerators Look To Institutionalize Digital Marketplaces

According to Crunchbase, nine aggregators whose products sell primarily on Amazon have raised more than $2.3 billion in funding, with Massachusetts-based Thrasio leading the pack at $1.6 billion.

Consumers are increasingly turning to marketplaces as convenient places to shop for a wide selection of items. Research in PYMNTS’ “The Bring it to Me Economy” report, done in collaboration with Carat from Fiserv, found that 91 percent of consumers have made at least one purchase on Amazon in the past year, and 70 percent have shopped on another digitally recognized marketplace.

You may also like

Leave a reply

Your email address will not be published. Required fields are marked *

More in:Latest News