Benitago Group, a startup aiming to build a big portfolio of Amazon brand names, is announcing that it has actually raised $55 million in new funding– most of it in the kind of line of credit to fund acquisitions, plus an equity financial investment.
“We wish to take these brand names and growth them and run them a lot more effectively,” stated co-founder Santiago Nestares.
Other startups have likewise raised huge rounds to roll up Amazon FBA (Satisfaction by Amazon) businesses, however Nestares informed me that Benitago is different due to the fact that it’s not simply focused on “financial arbitrage.” Instead, it has developed an in-depth, repeatable blueprint to continue growing these business.
Nestares and his co-founder Benedict Dohmen (they each offered the business a couple of syllables for its name) started Benitago while students at Dartmouth, with the back pain brand Supportiback. The company has consequently expanded into categories like nutrition, beauty and maternity, but Nestares said they funded that development with earnings, without raising much outdoors capital before now.
As an outcome, team members may not have actually been professionals in, say, orthopedics, however they’ve succeeded due to the fact that they’re “hyper-focused” on how brand names can grow on Amazon, becoming what Nestares described as “Amazon natives.”