eEquity, a Nordic growth investor focused on digitally enabled businesses, has completed the tenth deal in its fourth fund through an investment in Go North. eEquity is the lead investor in the financing round encompassing almost EUR 8 million. Go North is a Gothenburg based Amazon aggregator with a team of Scandinavian e-commerce entrepreneurs acquiring and scaling brands on Amazon and beyond. Through this partnership, Go North will accelerate their growth journey, with the ambition of becoming one of the leading European Amazon aggregators.
Go North was founded in 2021 by the CEO Johan Hallenby and is one of the first Northern European Amazon aggregators. The business model is well-proven by several successful Amazon aggregators in both the US, UK, and Germany, which have all capitalized on the large, fragmented, and fast-growing third-party seller market on Amazon. Go North aims to acquire profitable and fast-growing third-party sellers on Amazon and scale them on Amazon and beyond. All acquired brands should be leading within their niche with most of their sales coming from Amazon. The Go North brand portfolio started off with the lifestyle brand Johan & John, which is founded by Johan Hallenby himself, and has later grown through acquisitions of 10 Amazon-native brands. The pipeline of potential target brands is extensive and Go North has a plan to acquire one brand per week going forward. The company is currently based in Gothenburg with a team of 13 people which are now ready to ramp up the growth journey and take a leading position among European aggregators.
The investment from eEquity will be used to accelerate and realize Go North’s growth plans through acquisitions and scaling of the brands. Among other initiatives, Go North aims to strengthen the organization, implement a state-of-the-art IT setup, expand its geographical presence and scale beyond Amazon.
Magnus Wiberg, Managing Partner at eEquity comments: “Being a sector Fund, eEquity has been investing in e-Commerce the last 12 years and have gained a solid expertise within that field. Many of our portfolio companies, and especially our D2C companies, have expanded further through marketplaces like Amazon so we know how important this channel has been for our brands to succeed. Go North, with the Founder Johan and his strong team, have in a very short period capitalized on the strong growth within third party sellers on Amazon. The combined e-Commerce knowledge between eEquity and Go North will also guarantee a very strong organic growth within the acquired brands which really differentiates us from the competition from other aggregators.”
Johan Hallenby, Founder & CEO at Go North comments: “We are so happy to get eEquity as our lead investor while building the next Unicorn of Europe. From the very first conversation with eEquity, it felt 100% right. We are both like-minded about how this journey would look like, and we are both thinking big! Speed is Go North’s key and we have already achieved many successes during the first time. For us it was important that our lead investor would let us continue to sprint the Marathon, with the right navigation. With the seed-round completed we will now be able to take Go North to the next level, aiming for a billion SEK in revenue with good profitability. This is like working in a dream, the flow we have is crazy and every day, it’s game day.”
About eEquity
Founded in 2010, eEquity is a Private Equity firm specializing in growth investments in digitally enabled businesses and e-commerce. The ambition is to help entrepreneurs realize their goals and visions. Our portfolio companies include NA-KD, iDeal of Sweden, Gordon, Sweef, Aim’n, ZOO.se and Chimi. eEquity has led investments of almost EUR 400 million in +30 companies across four funds. eEquity typically invests in companies with sales between EUR 5-40 million, with an ambition to build them to over EUR 100 million in sales under profitability. The investors behind eEquity are leading family offices, European Investment Fund (“EIF”) and financial institutions. Visit www.eequity.se for more information.
About Go North
The company was founded in 2021 by Johan Hallenby and is currently based in Gothenburg. Go North is one of the first Northern European Amazon aggregator, with the business model to acquire third-party sellers on Amazon and scale the brands further on Amazon and beyond. Visit www.gonorth.co for more information.
For more information, please contact
Johan Hallenby, Founder & CEO, Go North
+46 735 07 07 07, johan.hallenby@gonorth.co
Magnus Wiberg, Managing Partner, eEquity
+46 735 37 50 00, magnus.wiberg@eequity.se
