Thrasio-styled Una Brands nets $15m in series A money

Una Brands, a Singapore-based ecommerce startup, has raised US$15 million in a series A round led by White Star Capital and Alpha JWC. The round also saw participation from existing investors and Ninja Van co-founder Alvin Teo.

The development comes after Una Brands raised US$40 million in a seed round five months ago.

Like Thrasio, the one-year-old company acquires independent profitable brands with revenues of between US$1 million and US$50 million.

Una Brands co-founders / Photo credit: Una Brands

Una will use the fresh funds to acquire more ec0mmerce firms in the Asia Pacific region.

Since its inception, the ecommerce roll-up firm has acquired 15 brands. Kiren Tanna, founder and CEO of Una Brands told Tech in Asia that the company aims to have a portfolio of more than 20 brands by the end of this year and 70-80 brands by 2022-end.

It is planning to acquire brands in regions including Southeast Asia, Australia, New Zealand, China, and North Asia.

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The company said it is acquiring two or three brands a month at the moment. Last month, Una acquired Bellaforte, a startup launched by 15-year-old Sam Richards.

Tanna further noted that the company is not focusing on India currently as it sees a “much larger opportunity” to acquire brands in the Asia-Pacific region. It plans to add value to brands by growing them via a channel and geographic expansion across the region.

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It says it has the ability to acquire brands selling across multiple channels relevant to the Asia-Pacific market, including those on platforms like Shopify, Shopee, Lazada, Tokopedia, and Amazon, the company said in a statement.

Photo credit: Una Brands