Go North, aiming to become Europe's next unicorn, closes 77.5M SEK in seed round led by eEquity

"As FBA entrepreneurs, we got quite a negative impression of the aggregators. We heard stories about intentionally complicated legal work, and even buyers operating brands at a loss to avoid payouts. It was a system that had to change. So, we decided to change it—and start an aggregator by entrepreneurs, for entrepreneurs." Johan Hallenby, founder & CEO. " As FBA entrepreneurs, we got quite a negative impression of the aggregators. We heard stories about intentionally complicated legal work,...

GOTHENBURG, Sweden, 04/04/2022 (informazione.it - comunicati stampa - internet)

" " Johan Hallenby, founder & CEO.

The team has grown to nearly 20 people, with several experienced key hires in place with backgrounds from e-commerce, M&A and IPOs. The company targets an ambitious 1bn SEK in revenue with good profitability within three years, enabled by a high acquisition rate and accelerated brand profitability.

eEquity, who led the round, is the most active Nordic investor in digital growth, with the ambition of building market leading businesses, in close partnerships with entrepreneurs. The seed round also included seasoned angel investors such as 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).

"

The philosophy seems to resonate. They have in just a few months built a portfolio of 11 brands, with impressive post-acquisition growth (YoY), and they have big plans for the future. Fueled by further large debt and equity rounds, with plans to raise several hundred million SEK, they aim to acquire a new brand every week.

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