“As FBA entrepreneurs, we have had quite a negative impression of aggregators. We’ve heard stories of intentionally complicated legal work, and even of buyers exploiting 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.“Johan Hallenby, Founder and CEO.
The team has grown to nearly 20 people, with several experienced key hires from e-commerce, M&A and IPOs. The company is aiming for an ambitious business 1 billion Swedish crowns in sales with good three-year profitability, enabled by a high acquisition rate and accelerated profitability of the brand.
eEquity, which led the round, is the most active Nordic investor in digital growth, with ambitions to build market-leading companies, in close partnership with entrepreneurs. The round also included seasoned angel investors such as Alexander Hars (System OK + Let’s Deal), Ludwig Mattson (Gavia group), Victor Hielte (Ernstrom group), Caroline Ingeborn (Leap & Toca Boca), Peter Lindholm (Group of border cars), Lena Apler (Collection bank), Magnus Emilson (NA-KD & Ess Group) William & Kim Olsson (Stena + Sessan) Gustave Eriksson (Stena + Formica), Sujay Tyle (Merama), and Karin Hallin (Partners Group).
“Go north goes beyond simply acquiring Amazon brands. It’s about providing resources to entrepreneurs. By selling their Amazon FBA brand to Go north, they get the funding to do the sequel. Go further, go faster. We are building an ecosystem of e-commerce entrepreneurs who believe we can change the industry for the better, together.”
The philosophy seems to resonate. They have built a portfolio of 11 brands in a few months, with impressive post-acquisition (YoY) growth, and they have big plans for the future. Fueled by new fundraising and significant debt, with plans to raise several hundred million SEK, they aim to acquire a new brand every week.
Photo – https://mma.prnewswire.com/media/1778882/Go_North.jpg
Photo – https://mma.prnewswire.com/media/1778945/Johan_Hallenby_founder_CEO.jpg
Logo – https://mma.prnewswire.com/media/1779318/Go_North_Group_AB_Logo.jpg
SOURCE Go North AB Group