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Heroes raises $65M in new funding

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Heroes, a European e-commerce business operating a similar model to unicorn Thrasio in the U.S. with a strategy of acquiring and scaling high performing Amazon businesses has raised $65 million in funding round.

The round a mixture of equity financing and debt is co-led by 360 Capital and Fuel Ventures, with participation from Upper90, an alternative capital provider for e-commerce assets. Angel investors in the company include Matt Robinson, co-founder of GoCardless and Nested, and Carlos Gonzales, COO of GoCardless.

“Debt will play an important role in the growth of our business going forward,” explains ex-EQT VC Riccardo Bruni, who co-founded Heroes with his brother Alessio. “Ultimately, it is a significantly cheaper form of capital which is non-dilutive, allowing our team and our investors to retain ownership in Heroes in the long term”.

With the goal of becoming Europe’s largest acquirer and operator of ‘Fulfillment by Amazon’ (FBA) brands, Heroes plans to roll up high performing FBA businesses from a range of different sectors, spanning baby, pets, homeware, kitchenware, garden, DIY, sports and outdoors categories. The idea is to provide these types of founders with an exit opportunity, while leveraging Heroes’ infrastructure to hopefully scale these FBA companies internationally via its in-house team of experts.

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