Amazon started as online book store and has grown to be the worlds largest online retailer.
Suma Brands Raises $150M Series A to grow Amazon FBAs
US based Suma Brands, an ecommerce platform focused on developing Amazon FBA brands into household names was launched from stealth and have announced a $150M Series A led by Pace Capital and Material alongside a credit facility led by i80 Group.
The company which was founded a year ago will use the newly raised capital to continue accelerating their pace of acquisitions of Amazon FBA businesses and expand their diverse portfolio of ecommerce brands. The company will also continue investing aggressively in their 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. 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.”
– Andrew Savage Co-founder and CEO, Suma Brands
One entrepreneur who found success from working with Suma Brands is Annalisa DeMarta, Founder of Lone Cone (the #1 selling kid’s rain boots on Amazon for the last three years and one of the brands in the Suma family)
“Working with Suma has been a completely different experience than what I imagined selling a business would be like. Prior to meeting Suma, I spoke with a few acquisition groups to hear what was out there and none of them acknowledged the potential of what I had built, which made the relationship highly transactional. Suma understood the brand’s goals and potential and had a strong desire to achieve mutually beneficial outcomes. I’ve always had big dreams for Lone Cone and I’m fortunate I found a partner who has the vision and resources to achieve those dreams”.
– Annalisa DeMarta, Founder, Lone Cone