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Gold Rush To Fund Amazon Aggregators Dries Up


Amazon aggregators have raised just $2.2 billion in the first half of the year after raising $5.1 billion in the first half of 2021. The race to launch and fund new aggregators has ceased.

Only 12 new aggregators announced funding in the first half of 2022, attracting a combined $1 billion. The rest of the $2.2 billion raised went to firms raising additional rounds. For comparison, in 2021, 22 new aggregators announced funding in the first half and 17 in the second half of the year.

New Amazon aggregators were RubiBrands from Turkey, eBrands from Finland, Evenflow from India, Wholesum and Boosters from South Korea, Go North from Sweden, The Mothership from the United Kingdom, Flummox from Switzerland, Yaba from Spain, Riogrande from Mexico, and Society Brands and Dragonfly from the U.S.



Low interest rates, e-commerce’s historical growth, cheap multiples, and headlines about Thrasio and other first aggregators drove most of the investments in 2021. That euphoria has now dissipated. Capital got more expensive, e-commerce’s growth became flat, increasing costs squeezed the margins, and multiples continued to increase up to the end of 2021.


 
 

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