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SellerX acquires US e-commerce roll-up rival Elevate Brands in an all-share deal, raises $64M+


E-commerce aggregators have collectively raised hundreds of millions of dollars over the last several years to push ahead on strategies to consolidate a number of smaller online retailers. Now, the aggregators themselves are the ones getting swallowed up.
Today, SellerX, a Berlin-based roll-up play that has raised nearly $900 million in equity and debt and is valued at more than $1 billion, announced that it would acquire Elevate Brands, based out of Austin and NYC. Elevate, like SellerX, is in the business of buying up smaller retailers that sell over marketplaces like Amazon, but it’s a fair bit smaller, with some $250 million raised to date.
The companies are not disclosing the value of the deal but note that it’s an all-share deal, and it will also include a new investment of €60 million+ ($64 million) in the combined entity from existing SellerX investors Sofina as the lead, plus L Catterton, Cherry Ventures, Felix Capital, 83North, Upper90 and TRCM Fund also participating, along with an extended credit line from BlackRock and Victory Park Capital funds to buy up more companies.
The merged company will be called SellerX Group, led by S …

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