Ecommerce Aggregator Una Brands Raises $ 15 Million Series A Five Months After Launch
Una Brands, the Asia-Pacific brand-focused e-commerce aggregator, today announced that it has raised $ 15 million for its Series A. The funding round was co-led by White Star Capital and Alpha JWC, with the participation of returning investors. and Ninjavan co-founder, Alvin Teo.
The news comes just five months after Una launched with a $ 40 million round of equity and debt. The startup did not disclose the debt to equity ratio (like many other ecommerce aggregators, Una uses debt financing to buy brands because it is not dilutive). Co-founder and CEO Kiren Tanna told TechCrunch that Series A is a fundraising round that is more than five times the valuation of Una’s last fundraising. In addition to raising equity, Una also extended the size of its credit facility with Claret Capital.
“We have a very good pipeline of brands through APAC that we are working on, and as we have already made a few deals, we are seeing bigger and bigger brands approaching us,” Tanna said. Series A was lifted to accelerate the growth of its brand portfolio and Una’s operations, and it plans to raise more debt and equity, he added. The company now has 90 employees in seven offices in Asia-Pacific: Singapore, Australia, India, China, Indonesia and Malaysia.
Unlike many other ecommerce aggregators that focus on Amazon sellers, Una describes herself as “industry agnostic” due to the number of marketplaces used in APAC, including Tokopedia, Lazada, Shopee, Rakuten, and eBay. Una looks for profitable brands that generate between $ 1 million and $ 50 million in revenue per year. After acquisitions, Una develops its brands by adding new distribution channels or developing them in new countries.
Since launching, Una has purchased more than 15 brands and says the first ones it acquired have seen their sales and profits increase by 50%. The average EBITDA of its acquired brands is around 26%, putting the company on the path to profitability, Tanna said.
He added that Una is developing technology to help its brands grow. Since most are not on Amazon and many are seller-shipped, sometimes from home, Una pushes them to their professional warehouse handling infrastructure. Tanna said the company is building its own technology to get transaction-level data from multiple channels to integrate it into its ERP system and track operational performance.
In a statement, Alpha JWC Managing Partner Jefrey Joe said, “Digitally native brands in APAC are an age-old trend that is growing 4 times faster than those in the West. We believe Una’s value proposition will resonate with brands across the region and further propel D2C growth in countries like Indonesia.