Asset management firm CoVenture led a $325m series A round for US-headquartered e-commerce aggregator Benitago Groupe yesterday that included financial services firm HSBC.
Benitago is an aggregator and incubator for e-commerce brands, developing its own brands in-house in addition to buying and investing in existing online brands on marketplaces such as Amazon.
The funding came eight months after a $55m seed round featuring CoVenture that consisted of equity and debt financing. The cash will support the company’s continual acquisition of Amazon brands and the growth of its brand offering along with its product development studio.
Santiago Nestares, Benitago’s co-founder, said: “This capital raise fuels our ability to continue to build compelling brands and products in-house as well as acquire great third party brands and operate them efficiently.
“In the past months we have seen tremendous growth for our in-house and acquired brands. Post-covid normalisation, supply chain challenges and increased international competition have all underscored the value of hands-on experience in scaling Amazon brands.”
