Olsam Group

Based in London, UK, and founded in 2020 by brothers Sam Horbye and Ollie Horbye, Olsam Group Ltd. is a company that buys up both consumer and business-to-business merchants' selling on Amazon. Olsam Group buys up in the Amazon marketplace by using Amazon’s FBA fulfillment program. It is a storage and shipping service that Amazon offers to help business owners sell their products. Olsam uses these 6 steps to buyers to make it understand the process: (1) 30 minutes of introductory phone call, the company will call the buyer to understand the reasons of their business start-up to better assist the buyer in the right direction; (2) sign a Non-Disclosure Agreement (NDA), to ensure that all the details and private informations are not to be shared to third parties and be safe; (3) data analysis, within the next 48 hours, sellers are advised to send extracts from their Amazon account for their Seller Central account of which Olsam can extract the buyers' Amazon sales information; (4) make an offer, Olsam with present a Letter of Intent (LOI), which lays down its offering including valuation/purchase price, payment terms, timeline, additional due diligence requests, and the next steps; (5) due diligence, during this 3 weeks phase, Olsam would be asking for supplier agreements, employee contracts (if any), audited financial statements, trademarks, rental/lease agreements, invoices and other documents. As they would be drafting the Purchase Agreements, which will dictate the terms and conditions; and (6) the closing phase, the process of signing the Purchase Agreements, wiring the funds, and transferring the assets and logins. Olsam Group plans to fuel its mergers and acquisitions strategy, as well as continue building out its technology platform and hire more talents.

1. Series A

   Sep 1, 2021

   Amount

   $22M

   Investors

   Locked