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E-commerce startup Heroes raises $65M in equity and debt to become the Thrasio of Europe

Heroes, a European e-commerce business operating a similar model to unicorn Thrasio in the U.S. — with a strategy of acquiring and scaling high performing Amazon businesses — has raised $65 million in funding round.
The round — a mixture of equity financing and debt — is co-led by 360 Capital and Fuel Ventures, with participation from Upper90, an alternative capital provider for e-commerce assets. Angel investors in the company include Matt Robinson, co-founder of GoCardless and Nested, and Carlos Gonzales, COO of GoCardless.
“Debt will play an important role in the growth of our business going forward,” explains ex-EQT VC Riccardo Bruni, who co-founded Heroes with his brother Alessio. “Ultimately, it is a significantly cheaper form of capital which is non-dilutive, allowing our team and our investors to retain ownership in Heroes in the long term”.
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