Swiss eCommerce startup Flummox raises €11.8 million
Flummox, the Swiss aggregator of online micro-brands has today announced a capital boost of about €11.8 million led by Fasanara Capital. Participating co-investors also include an Italian syndicate of business angels – including Raffaele Terrone, Founding partner & CFO at Scalapay, and Stefano Pardi, former Head of eCommerce at Facebook.
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 aggregator company buys and then scales these high-potential brands internationally across multiple online channels.
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 to larger aggregators with similar operational infrastructure. On Amazon alone, Flummox targets a pool of over 400k third-party sellers.
Francesco Filia, CEO of Fasanara Capital, commented: “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 aims to scale operations across Europe, becoming the leading brand accelerator, powered by a tech-driven platform that grows local brands into international D2C businesses. This new 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.