Roll-up firm Una Brands loses co-founder CEO

Kiren Tanna, co-founder and CEO of Singapore-based ecommerce roll-up firm Una Brands, has stepped down after over four years at the helm.

Cho Weihao, former CFO, has assumed the role of CEO, the company told Tech in Asia.

Una Brands co-founders (from left) Tobias Heusch, Kiren Tanna, and Kushal Patel / Photo credit: Una Brands

According to official company filings seen by Tech in Asia, Tanna resigned from the boards of 26 Una Brands special purpose vehicles (SPVs) on January 14.

Ecommerce roll-up firms often use SPVs to structure acquisitions, manage risks, and streamline financial operations across their portfolio.

Serial entrepreneur Tanna is also the co-founder of food delivery company Foodpanda and budget hotel chain Zen Rooms.

Tech in Asia has learned that he will fully transition out of the company this year and is working on ideas in the consumer and vertical AI space.

In response to Tech in Asia’s query about Tanna’s departure, Una Brands said it had made a “clear strategic shift toward profitability and sustainable growth,” which was accompanied by this leadership transition.

According to its most recent financial statement, Una Brands grew its revenue by 4.8% year on year to US$43 million in 2023, while its losses before taxes widened by 4.2% to US$33.7 million. The company said that it had achieved EBITDA profitability in the fourth quarter of 2023.

See also: Una Brands confronts slowing growth in 2023 as tariff clouds loom

Founded in 2017 by Tanna, Kushal Patel, and Tobias Heusch, Una Brands buys established retail firms that generate between US$300,000 and US$20 million in annual revenue.

The company has acquired over 20 brands in multiple categories, including home goods with The Small Merchant, lifestyle with Hendeer, and kitchenware with Bella Forte.

However, Tech in Asia has learned that Una Brands has halted acquisitions for over a year, prioritizing profitability over growth.