Startup SellerX: prominent Euro 100 million seed financing round
Berlin — SMP advised the startup SellerX on its seed financing round. The company’s equity and debt financing was led by Cherry Ventures, Felix Capital, and Silicon Valley-based VC TriplePoint Capital, totaling €100 million. Other investors include Village Global and several business angels, including Zalando co-founder David Schneider and former Amazon UK CEO Chris North.
SellerX says it plans to use the fresh capital to acquire up to 40 Amazon stores over the next 18 months, as well as expand its team. A team led by SMP partner Martin Schaper provided legal advice to SellerX in connection with the debt financing in the seed financing round.
“Acquiring and growing Amazon stores is certainly one of the hottest business models right now. Congratulations to the entire SellerX team on this remarkable achievement. “, says Martin Schaper.
SellerX is a VC-funded startup that buys and builds out Amazon stores. With its growing and diversified portfolio of FBA (Fulfillment by Amazon) sellers, SellerX aims to further optimize and grow its acquired businesses to establish sustainable consumer brands in the home, garden and pet supply categories. The Berlin-based company was founded in 2020 by Philipp Triebel and Malte Horeyseck and currently employs around 25 people, according to the company.
Consultant SellerX: SMP
Dr. Martin Schaper, Partner
Dr. Martyna Sabat, Associate
Matthias Kresser, Senior Associate
SMP is a specialist tax and commercial law firm operating in the core areas of corporate, funds, litigation, tax and transactions. SMP attorneys and tax advisors represent a wide variety of clients. These include emerging technology companies and family-run medium-sized enterprises as well as corporations and private equity/venture capital funds. Since its foundation in 2017, SMP has become one of the leading addresses for venture capital, private equity and fund structuring in Germany. The firm and its partners are nationally and internationally ranked by JUVE, Best Lawyers, Legal 500, Focus, and Chambers and Partners. Today, SMP employs over 50 experienced lawyers and tax advisors in three offices in Berlin, Hamburg and Cologne. www.smp.law