Friday Fundings: Thrasio, BharatPe, and Mighty Buildings
Thrasio Raises Fresh Funding to Consolidate Third-Party Amazon Sellers
Thrasio, a startup which acquires and then grows third-party sellers on Amazon (AMZN) recently secured $750 million in fresh funding, raising the company’s valuation to between $3 billion and $4 billion. The round was led by existing investors Oaktree and Advent.
Thrasio has acquired almost 100 Amazon businesses to date and says it is currently closing two to three deals each week. By consolidating businesses, Thrasio creates economies of scale. A number of competitors have similar business models and are also attracting interest from investors. Earlier this week, Branded, a new company which rolls up and grows third-party sellers, announced a $150 million funding round. It is likely that this industry will see growth as ecommerce continues to boom, and it could become increasingly competitive.
BharatPe Secures Funding for Digital Payment Systems in India
BharatPe, a New Delhi-based fintech company, recently raised $108 million in a Series D funding round. The startup builds systems to help businesses accept digital payments even if the rest of their operations are not online. India has 600 million internet users and is the world’s second-largest digital market, but much of the country’s population still is not connected to the internet. BharatPe provides services to about 6 million small businesses from convenience stores to roadside tea stands.
The new funding brings the company’s valuation to $900 million. The round was led by Coatue Management with participation from Ribbit Capital, Insight Partners, Steadview Capital, Beenext, Amplo, and Sequoia Capital. BharatPe, which currently operates in 75 cities, plans to use the fresh funding to expand its presence in new parts of India.
Mighty Buildings Attracts Investments as Housing Demand Booms
Mighty Buildings, a construction tech startup, secured $40 million in a Series B funding round. The company leverages 3D printing, robotics, and sustainable materials to build homes. The round was co-led by Khosla Ventures and Zeno Ventures with participation from existing investors like Core Innovation Capital andBold Capital Partners, as well as new investors like Modern Venture Partners and Giant Ventures.
Demand for homes has climbed during the pandemic as people have looked for more space to work at home and social distance from others. Construction tech companies raised a total of $918 million in 2020 and the trend appears to be continuing this year.
Please understand that this information provided is general in nature and shouldn’t be construed as a recommendation or solicitation of any products offered by SoFi’s affiliates and subsidiaries. In addition, this information is by no means meant to provide investment or financial advice, nor is it intended to serve as the basis for any investment decision or recommendation to buy or sell any asset. Keep in mind that investing involves risk, and past performance of an asset never guarantees future results or returns. It’s important for investors to consider their specific financial needs, goals, and risk profile before making an investment decision.
The information and analysis provided through hyperlinks to third party websites, while believed to be accurate, cannot be guaranteed by SoFi. These links are provided for informational purposes and should not be viewed as an endorsement. No brands or products mentioned are affiliated with SoFi, nor do they endorse or sponsor this content.
Communication of SoFi Wealth LLC an SEC Registered Investment Advisor
SoFi isn’t recommending and is not affiliated with the brands or companies displayed. Brands displayed neither endorse or sponsor this article. Third party trademarks and service marks referenced are property of their respective owners.
SOSS21021203
All your finances.
All in one app.
App Store rating
