After Barcelona-based aggregator for digital-native brands, YABA closed a massive $85 million funding round just last week, Swiss aggregator of online micro-brands Flummox has raised €11.8 million funding. The round was led by Fasanara Capital and saw the participation of an Italian syndicate of angels, including Raffaele Terrone, founding partner and CFO at Scalapay, and Stefano Pardi, former head of e-commerce at Facebook.
This funding will be invested into growing the Flummox portfolio, with at least 15 new brands and expanding its team with core specialists to strengthen its proprietary IP in sourcing, operating, and scaling online brands.
Founded in 2021 by Olmo Tancredi Cassano and Marc Marshing, Flummox focuses on online consumer brands with annual sales under $1 million and a predominant presence on the Amazon or Shopify marketplace. The platform 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, it targets a pool of over 400,000 third-party sellers.
Francesco Filia, CEO, Fasanara Capital, said: “In the context of a Fulfillment by Amazon (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."
Going forward, the startup aims to scale operations across Europe, powered by a tech-driven platform that grows local brands into international D2C businesses.