The New York-based business was established in 2020 by Raunak Nirmal and Wiley Zhang, who co-founded it after working at Amazon and have experience in finance and consulting. For the purpose of acquiring and growing Amazon third-party sellers to become the next wave of retail brands, Acquco raised $160 million in Series A funding.
Acquco, an online retail platform, obtained $160 million in Series A funding for the purpose of acquiring and growing Amazon third-party sellers into the next wave of retail brands.
Nirmal and Zhang have built brands together for seven years, including RefundLabs, which streamlines the inventory claims procedure for independent e-commerce merchants. They have also provided business counseling services. This brought them to Acquco. They left RefundLabs to head Acquco, a company that buys brands and develops them further.
Nirmal said, “We were designing tools and were encouraged to go out and build a brand on Amazon to figure out the pain points. “Three months later, we developed an idea with the potential to be worth billions. I quit Amazon a few months after being promoted to product manager in order to focus on the company I founded, which generated $7 million in sales in its first year.
CoVenture, Singh Capital Partners, Crossbeam, and private investors like Aman Bhutani, participated in the investment round. According to Nirmal, Acquco has previously raised less than $2 million.
According to Ali Hamed, CEO of CoVenture, “Acquco’s unique position vs its competitors, backed by the deep Amazon experience and strong vision of its founders, has created an exceptional investment opportunity in a vast, rising market.” “We are really eager to collaborate with them and their team to move forward with driving development at scale.”
Since its last investment round, Nirmal claimed, the company has already generated revenues in excess of $100 million while utilizing less than $2 million in equity capital. He also claims that it has been profitable since the very beginning. He added that the company has an advantage over competitors like Perch and Thrasio thanks to its patented technology and tried-and-true solutions as per acquco 160m series coventureazevedotechcrunch.
The company claims that it will be able to assist Amazon sellers in closing down their operations within a 30-day window while allowing them to continue scaling their businesses after the acquisition. Additionally, it provides more flexible terms while allowing business owners to resume selling on the Amazon marketplace.
Since then, things have significantly changed. The Amazon Marketplace, where millions of vendors compete for customers, has already accounted for the majority of sales on the Amazon platform. To qualify for Prime shipping through Fulfillment by Amazon, or FBA, many of them pay Amazon to ship and store their products. Aqua is focusing on this industry.
Nirmal was also assigned the task of creating a brand on Amazon, which gave him a superior comprehension of the problems platform sellers faced and the resources they needed for further development. After his brand generated more than $7 million in sales in its first year alone, he eventually quit the firm and started working as a full-time vendor. The co-founders created numerous prosperous
Nirmal claimed that the industry is sizable enough to support multiple competitors. Marketplace Pulse forecasts based on Amazon filings that Amazon’s Marketplace contributed $300 billion in sales in 2020, up from $200 billion in 2019, to the company’s overall gross merchandise volume of close to $490 billion.
Nirmal claimed that Acquco distinguishes itself by the knowledge of its founders and a library of playbooks they have created to handle a variety of circumstances.
Although we have expanded so quickly and have a competitive advantage due to our experience, we didn’t initially plan to get this amount of money, Nirmal said. “Our goal is to create the largest portfolio of brands in the world, and to do this, we must: raise money and keep acquiring brands. We can automate the complete brand, not just on Amazon but also on all other retail channels, thanks to our unique perspective.
Here at Aqua, we take a highly measured approach to identifying, evaluating, and acquiring leading Amazon brands. We pride ourselves in delivering long-term value to our clients through the leveraging of capital, resources, and opportunities for Amazon sellers to achieve their goals.
Raunak Nirmal, Wiley Zhang, and investment professional Jerel Ho founded the business in 2020. In 2021, the company raised $160M in Series A capital.
Businesses can outsource their order through the Fulfillment by Amazon (FBA) program, to Amazon for fulfillment. When customers make purchases, businesses ship their goods to Amazon fulfillment centers, where we pick, pack, and ship the orders. We can process returns for those orders as well as offer customer service.
Acquco is a 2020 startup acquisition firm with headquarters in New York City and institutional backing. We are concentrating on Amazon third-party FBA vendors. We enable creators to successfully leave their Amazon business in less than 30 days, under the direction of a team of seasoned operators and ex-Amazon employees.