PR95309

GOTHENBURG, Sweden, Apr. 6, 2022 /PRNewswire=KYODO JBN/--

As 2021 ended, Go North (https://gonorth.co/) started their journey to become

Europe's next unicorn. Amazon's incredible success is partly driven by

third-party sellers, and the idea of aggregating these smaller brands under an

operational umbrella to increase profitability has shown great success. It's a

competitive industry with impressive funding rounds, but Go North, however, is

different from most of their competitors. Instead of coming from traditional

M&A backgrounds, they're a team of Amazon entrepreneurs themselves—and uniquely

able to connect with FBA (Fulfilled-By-Amazon) entrepreneurs because of it.

"As FBA entrepreneurs, we got quite a negative impression of the aggregators.

We heard stories about intentionally complicated legal work, and even buyers

operating brands at a loss to avoid payouts. It was a system that had to

change. So, we decided to change it—and start an aggregator by entrepreneurs,

for entrepreneurs." Johan Hallenby, founder & CEO.

The team has grown to nearly 20 people, with several experienced key hires in

place with backgrounds from e-commerce, M&A and IPOs. The company targets an

ambitious 1bn SEK in revenue with good profitability within three years,

enabled by a high acquisition rate and accelerated brand profitability.

eEquity, who led the round, is the most active Nordic investor in digital

growth, with the ambition of building market leading businesses, in close

partnerships with entrepreneurs. The seed round also included seasoned angel

investors such as Alexander Hars (System OK + Let's Deal), Ludwig Mattsson

(Gavia group), Victor Hielte (Ernstrom Group), Caroline Ingeborn (Leap & Toca

Boca), Peter Lindholm (Frontier Car Group), Lena Apler (Collector Bank), Magnus

Emilson (NA-KD & Ess Group) William & Kim Olsson (Stena + Sessan) Gustav

Eriksson (Stena + Formica), Sujay Tyle (Merama), and Karin Hallin (Partners

Group).

"Go North is about more than just acquiring Amazon brands. It's about providing

resources to entrepreneurs. By selling their Amazon FBA brand to Go North, they

get the funding to do what's next. To go further, to go faster. We're building

an ecosystem of e-commerce entrepreneurs, believing that we can change the

industry for the better, together."

The philosophy seems to resonate. They have in just a few months built a

portfolio of 11 brands, with impressive post-acquisition growth (YoY), and they

have big plans for the future. Fueled by further large debt and equity rounds,

with plans to raise several hundred million SEK, they aim to acquire a new

brand every week.

Photo - https://mma.prnewswire.com/media/1778882/Go_North.jpg

Photo - https://mma.prnewswire.com/media/1778945/Johan_Hallenby_founder_CEO.jpg

Logo - https://mma.prnewswire.com/media/1779318/Go_North_Group_AB_Logo.jpg

Source: Go North Group AB