Amazon Entrepreneurs Flip The Script, Form FBA Aggregator Go North, Raise $7.5M

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Go North, based in Gothenburg, Sweden, raised €7.5 million in a funding round. Entering an already crowded market, the Amazon-filled aggregator says it differentiates itself by the fact that its founders don’t have “traditional M&A experience,” but rather come from themselves from the Amazon Entrepreneur space, a factor they believe can make all the difference.

When you work in a press office as busy as Tech.eu’s, whether you like it or not, you start to notice certain trends. Right next to groceries, revenue-based financing, and Web3, take your pick, just be sure to include enough buzzwords, the filled-in aggregation space by-amazon is a another “hot” space that seems to touch the wire semi-regularly.

However, in the case of Go North, there is an outlier at work here.

While a number of these FBA players all have quite heavy financial histories filling out the pool, Swedish sellers claim none of the above, but lean on their “former Amazon marketplace entrepreneurs” leg.

CEO Johan Hallenby

But that doesn’t mean they’re green in every sense of the word. A simple look at CEO Johan Hallenby’s background, for example, includes an Executive MBA made up of parts of the University of Gothenburg, the Indian Institute of Management in Bangalore and Zhejiang University, and quite a business history. long, the mark might be on something.

“As FBA entrepreneurs, we had a pretty negative impression of aggregators. We heard stories of intentionally complicated legal work, and even buyers operating brands at a loss to avoid payments. It was a system that had to change, so we decided to change it and launch an aggregator by entrepreneurs, for entrepreneurs,” Hallenby explained.

Likewise, Go North by no means operates in obscurity, having grown the team to almost 20 employees since November 2021, a number of key hires include people with an e-commerce background (naturally), and mergers and acquisitions and IPO activity.

Go North’s €7.5m seed round was led by eEquity and saw a number of angel investors including Alexander Hars (System OK + Let’s Deal), Ludwig Mattsson (Gavia group), Victor Hielte (Ernstrom Group), Caroline Ingeborn (Leap & Toca Boca), Peter Lindholm (Frontier Car Group), Lena Apler (Collector Bank), Magnus Emilson (NA-KD & Ess Group) William & Kim Olsson (Stena + Sessan) Gustav Eriksson (Stena + Formica), Sujay Tyle (Merama), and Karin Hallin (Partners Group) all participants.

“Go North isn’t just about acquiring Amazon brands. It’s about providing resources for entrepreneurs. By selling their Amazon FBA brand to Go North, they get the funding they need to take the next step. Going further, to move faster. We’re building an ecosystem of e-commerce entrepreneurs who believe we can change the industry for the better, together,” Hallenby concluded.

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