SMP
March 31, 2021 Press

SMP advises SellerX on extended financing round with a volume of EUR 26 million

Berlin – SMP again advised startup SellerX in the course of a capital increase. The total volume of the extended financing round amounts to approximately EUR 26 million and was raised from lead investor 83North as well as existing investors Felix Capital, Cherry Ventures and other well-known business angels. Just a few months ago, SellerX announced the successful closing of a EUR 100 million equity and debt financing led by Silicon Valley-based VC TriplePoint Capital, among others. By now, the Berlin-based company has bought up around 20 Amazon shops. It says that it plans to use the fresh capital to further expand its operating business. At least 50 more shops are to follow in the next one and a half years. SellerX received comprehensive legal advice from SMP partner Martin Schaper together with Martyna Sabat and Matthias Kresser. The team had already provided legal advice to the FBA buyer on the previous financing in late 2020 and also worked closely with Tomasz Krzywicki, general counsel of SellerX, on this transaction.

SellerX
SellerX is a VC-backed startup that buys and upscales Amazon businesses. With its growing and diversified portfolio of FBA (Fulfillment by Amazon) sellers, SellerX aims to further optimize and grow the acquired businesses in order to build lasting consumer brands in the areas of home, garden and pet supplies. Art supplies, DIY tools, nutritional supplements, beauty items, baby products and fitness tools are also part of SellerX's diverse portfolio. The Berlin-based company was founded by Philipp Triebel and Malte Horeyseck in 2020 and according to its own statement currently employs approximately 120 members of staff with offices in Germany, the UK and the US.

About SMP
SMP is a boutique law firm for tax and business law which is active in the core fields of Tax, Funds, Corporate, Litigation and Transactions. The attorneys and tax specialists at SMP represent a broad client base, which ranges from emerging technology companies and family-run SMEs to large corporations as well as private equity and venture capital funds. Founded in 2017, SMP has become one of the leading players for venture capital, private equity and fund structuring in Germany. The firm and its partners have been recognized nationally and internationally by JUVE, Best Lawyers, Legal 500, Focus and Chambers and Partners. Today, SMP has more than 60 experienced lawyers and tax specialists in three Offices in Berlin, Hamburg and Cologne.

Advisors SellerX: SMP
Dr. Martin Schaper, Partner
Dr. Martyna Sabat, Associate
Matthias Kresser, Senior Associate

Contact:

Frederic Sobottka
Marketing Manager, Cologne Office