This is Evenflow's second acquisition within a month as it acquired the aggregator BabyPro -- an online brand in the baby proofing category -- last weekEvenflow Brands Tech, a Thrasio-style third-party e-commerce marketplace aggregator that acquires marketplace sellers, has acquired Rusabl, a three-year-old e-commerce digital-first brand in the sustainable category.
Chennai-based Rusabl is a brand that sells eco-friendly daily utility goods such as bamboo toothbrushes and steel straws, among other things. This is Evenflow's second acquisition within a month as it acquired the aggregator BabyPro -- an online brand in the baby proofing category -- last week.
Incidentally, Rusabl's founder Mayank Jain has joined Evenflow as a full-time employee to build the sustainable category through more product launches.
“We want to build daily sustainability as a category within Evenflow and establish Rusabl as an affordable, sustainable option in the daily utility space, cutting across categories like lifestyle, home & kitchen, personal care, office commodities, etc. Based on the ongoing trends, eco-friendly products already make a $5.6 billion market in India,” said Evenflow co-founder and CEO, Utsav Agarwal.
Interestingly, unlike other Thrasio- style ventures focusing on D2C brands, Evenflow is heavily focused on third-party sellers on marketplaces and acquires them at EBITDA multiples and not revenue multiples. Further, the start-up has been acquiring third-party e-commerce sellers with attractive product portfolios while aiming to establish them as solid brands across multiple categories in e-commerce.
Founded by former Uber executive Utsav Agarwal in 2021, Evenflow aggregates third-party sellers on e-commerce platforms like Flipkart and Amazon. It acquires online marketplace sellers in a range of $200k-$1.5 million per brand.
In 2020, over 7,00,000 sellers signed up on Amazon India, making it the highest among any Amazon marketplace globally. Also, globally, third-party sellers on Amazon crossed $300 billion in GMV and are expected to reach $650 billion in GMV by 2025.
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