Brand accelerator Flummox secures $13M

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16.03.2022
L-R: Marc Marshing and Olmo Tancredi Cassano

Flummox, an aggregator of online micro-brands, has completed its first investment round led by Fasanara Capital, raising $13 million in a combination of equity and debt. With the first brand already acquired, the 2021 founded startup will use the funds to grow its portfolio and its team.

Founded by Olmo Tancredi Cassano and Marc Marshing, Flummox is an accelerator of promising online micro-brands with annual sales under $1 million, which leverage online marketplaces such as Amazon and Shopify to market consumer goods. Backed by a team of industry-leading investors and advisors, Flummox acquires and scales high potential online consumer brands into international direct-to-consumer businesses with its technology-driven and streamlined operations platform.

Positioned earlier in the value chain compared to other aggregators, Flummox scales online brands into category leaders within 18 to 24 months and creates exit opportunities for larger aggregators with similar operational infrastructure. On Amazon alone, Flummox targets a pool of over 400k third-party sellers generating annual sales between $250k-1M and an estimated 50k brands that fit its strategy. The company has already acquired one brand with three more in progress.

The fresh capital will enable Flummox to grow its portfolio with at least 15 new brands, expand into other European countries and build its team with core specialists to strengthen its proprietary IP in sourcing, operating and scaling online brands.

In addition to the lead investor Fasanara Capital, other participating co-investors include an e-commerce specialized venture capital firm from CEE and an Italian syndicate of Business Angels, including Raffaele Terrone, Founding partner & CFO at Scalapay, and Stefano Pardi, former Head of eCommerce at Facebook.

Francesco Filia, CEO of Fasanara Capital, says: “We are very excited to partner with Flummox. In the context of an FBA Aggregator market that raised conspicuous sums of capital despite an often-undifferentiated strategy, we found Flummox a notable outlier in their approach to market and we are looking forward to supporting Marc and Olmo along their journey”. Flummox plans to acquire 20+ sub-$1M-revenue brands every year and to scale operations across Europe to become the leading brand accelerator, powered by a technology-driven platform to grow local brands into international direct-to-consumer businesses.

(Press release/RAN)
photo L-R: Marc Marshing and Olmo Tancredi Cassano

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