US-based technology-driven commerce company Perch has pledged to invest €300m ($354m) to acquire third-party sellers in Europe.
The commitment comes a few months after the company closed a $775m Series A funding round. This round was led by the Softbank Vision Fund II, with Spark Capital and Victory Park Capital also contributing.
As part of its expansion into the UK and European Union (EU), Perch has hired Rahul Shewakramani as its head of mergers and acquisitions (M&A) in Europe.
Mr Shewakramani previously worked at Amazon, where he built and scaled a European team working across the EU to drive marketplace seller growth on Amazon’s US Third-Party Marketplace.
Mr Shewakramani said: “I love that Perch truly works to become a steward of the brands it buys, and I’m so excited to leverage the goodwill we’ve built with sellers to expand into a region I know well.
“We want business owners in the US, UK, EU and worldwide to know that we are the right people to grow their business.”
Perch CEO Chris Bell said: “Rahul’s background at Amazon and as a Fulfilment by Amazon (FBA) seller himself gives him such a unique perspective on the Amazon FBA space.”
“As an operator himself, Rahul is the perfect leader to expand our commitment to Europe and to help European sellers realise a life-changing exit.
“He also offers unique insights into how European sellers can sell into more global marketplaces, and his network of relationships with European FBA sellers will only further cement Perch’s status as the most trusted acquirer of third-party brands.”
Perch specialises in acquiring and operating leading Amazon third-party and other direct-to-consumer (D2C) brands.
Since its foundation in 2019, the company has secured more than $900m in funding and purchased more than 70 brands.
Earlier this month, it acquired Web Deals Direct, one of Amazon’s largest global FBA vendors.