Thrasio Brings $ 500 Million Debt Facility to Make Larger Acquisitions – Crunchbase News
Digital consumer goods company Thrasio raised a $ 500 million senior debt facility, bringing the total amount of its capital raised to over $ 1 billion since its inception in 2018.
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The increase comes six months after the Medfield, Massachusetts-based company lifted $ 260 million in Series C funding led by Advent International. Thrasio gains success Amazon third-party businesses and direct-to-consumer e-commerce brands and integrates them into its digital consumer goods platform.
The company boasts of managing 14,000 products on its marketplace. In 2020, he surpassed $ 500 million in sales and generated over $ 100 million in profit, co-founder and co-CEO Joshua Silberstein Crunchbase News said.
Debt financing includes a group of leading companies. It is led by JPMorgan Chase Bank, The private credit group of Goldman Sachs Asset Management and RBC Capital Markets, who were joined by the Crédit Stratégique Group within Oaktree Capital Management, Bain Capital Credit, Barclays, Black rock, BofA Titles, Credit Suisse loan financing, Capital Monroe, Morgan Stanley Private Credit and UBS Securities.
“When we think of building a long-term capital structure, going into debt means the company’s shareholder value is higher,” Silberstein said. “We’re going to raise more equity, but there is almost no prize where we wouldn’t go back to triple digits.”
Indeed, more startups are considering credit facilities as a way to increase their balance sheets when financing at an advanced stage.
With the new capital, Thrasio will be able to expand its investments and acquire larger companies.
Thrasio is also focused on international expansion, having recently launched a team in Germany, where he already closed two deals in the last quarter, as well as a team in Japan last week. Beyond that, Silberstein sees India and China as other potential markets.
“We’ve never bought a company with a turnover of $ 180 million, not because it doesn’t exist, but so far we’ve strayed from that space,” Silberstein said. . “Now we are able to make several deals with companies with sales between $ 50 million and $ 200 million.”
Drawing: Li-Anne Dias
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