Olsam acquires aggregator MarketFleet
British startup Olsam, an ecommerce aggregator, has acquired US-based competitor MarketFleet. It’s the second time that the company acquires another aggregator, after its acquisition of Flywheel Commerce in November last year. The company hopes to consolidate the market with this move.
Amazon seller acquisition companies entered European ecommerce in 2020. There is a lot of competition on the market. We’ve already written about Dutch ecommerce aggregator Dwarfs, which raised 30 million euros and acquired 4 companies in September last year. Around that same time, Olsam raised 139 million euros in growth capital.
‘Olsam raised 139 million euros in growth capital last year.’
Olsam acquires sellers on Amazon and uses its own platform’s data, technology and operational expertise to drive revenue and profit growth. With the capital raised last year, it acquired another aggregator called Flywheel Commerce. According to the company, it is now active across 3 continents in 15 countries.
Now, the company has made another acquisition in an attempt to consolidate the market, by acquiring aggregator MarketFleet. MarketFleet acquires sellers that sell outdoor products. It had already acquired 11 brands, which will now be combined with Olsam’s portfolio. Financial details about the acquisition have not been disclosed.
‘MarketFleet’s brands will be combined with Olsam.’
“MarketFleet entered the e-commerce space 8 years ago as an incubator for brands. We have always aimed to cut out the fat that pads the retail cost of other online sellers and remove all supply-chain parties between us and our customers. Olsam is the perfect company to take MarketFleet forward. They offered fair value for our business and carried over the small, but talented team we have built over the years”, said Chris Friedland, co-founder of MarketFleet.
In addition to expanding its portfolio, Olsam will also grow its presence in the US through the acquisition. “The acquisition of the brands within MarketFleet represents another significant milestone for Olsam as we continue to deepen our presence in the US and lead the way in the consolidation of the ecommerce space. Our operational expertise and successful track record continues to attract strong deal flow from the US and we look forward to working with many more US based sellers and aggregators seeking an exit”, said Sam Horbye, co-founder of Olsam.