Benitago Group Funding, Investors & Competitors

Benitago Group has raised $380M across 2 funding rounds, most recently a $325M Series A in November 2021.

Last Benitago Group funding round

$325M

Series A · Nov 2021

Cumulative funding Benitago Group raised

$380M

across 2 funding rounds

Key investors in Benitago Group

  • CoVenture
  • Private Ventures Group
  • HSBC Bank

Benitago Group Overview

About Benitago Group

Benitago Group is a U.S.-based operator of Amazon brands, creating and scaling products through data-driven development and proprietary algorithms for marketing, finance, and supply chain. Founded in 2016, the company bootstrapped a platform launching 20 brands, starting with back pain relief items. Benitago manages eight-figure annual revenues across health and wellness categories.


Founded

2016

HQ

United StatesNew York City, NY

Status

Privately held

Customer focus

B2C

Revenue model

Product sales

Benitago Group Funding History

Benitago Group has raised a total of $380M across 2 funding rounds.

Benitago Group's first fundraising round was a $55M seed round in January 2021. The most recent completed round was a $325M Series A in November 2021.

Benitago Group funding rounds

Benitago Group funding rounds
DateStageInvestorsRaisedDeal Summary
Nov 2021Series ACoVenture (lead); HSBC Bank; Private Ventures Group$325MBenitago Group is an e-commerce brand incubator and aggregator founded in 2016 by Santiago Nestares and Benedict Dohmen, focused on developing brands and products in-house while acquiring third-party brands primarily for sale on Amazon. The company announced a $325 million Series A funding round on November 23, 2021, led by CoVenture with participation from HSBC UK, following an initial $55 million raise earlier in 2021, bringing total funding to $380 million. Benitago aimed to become the largest seller on Amazon through this strategy of internal brand building and strategic acquisitions. At the time of the Series A, Benitago had launched over 10 brands and 300 products in-house and acquired nearly a dozen third-party brands, with acquired brands showing an average post-acquisition growth rate of 31% in the first three months. The company's brands reported 23% organic growth in Q3 2021. The funding positioned Benitago among other Amazon-focused aggregators like D1 Brands and Forum Brands that raised capital in 2021 amid high investor interest in the sector. However, the company later faced challenges, filing for Chapter 11 bankruptcy in 2023 due to stagnating e-commerce growth post-COVID and underperforming acquired brands relative to purchase valuations. Benitago was subsequently acquired by Cove Brands in 2024.
Jan 2021Seed-$55MBenitago Group is an e-commerce brand incubator and aggregator founded in 2016 by Santiago Nestares and Benedict Dohmen, starting with the back pain brand Supportiback while at Dartmouth. The company develops brands and products in-house, acquires third-party Amazon FBA brands, and operates across categories like beauty, maternity, nutrition, and home goods. By early 2021, it operated five brands with over 100 products and funded growth internally before external capital. In early 2021 (around January 31), Benitago raised $55 million, primarily as credit lines for acquisitions plus equity, led by CoVenture. This initial raise preceded a larger $325 million Series A in November 2021 also led by CoVenture with HSBC UK participation, bringing total funding to $380 million. The funds supported product development, Amazon brand acquisitions, and portfolio expansion, with plans for 12 new in-house brands and 25+ acquisitions by year-end. Traction included organic growth of 23% for brands in Q3 2021 and 31% average post-acquisition growth in the first three months, positioning brands for earnout payouts. The company had launched over 10 brands and 300+ products in-house and acquired nearly a dozen others by late 2021, scaling to nearly 1,000 products across dozens of brands. It competed in the hot Amazon aggregator space, similar to Thrasio, with peers like D1 Brands and Forum Brands also raising big rounds in 2021. Benitago filed for Chapter 11 bankruptcy around 2023, listing assets and liabilities between $50-100 million and appointing a chief restructuring officer, about two years after its major funding.

Who has invested in Benitago Group?

3 investors have backed Benitago Group across its funding rounds, including CoVenture, Private Ventures Group and HSBC Bank.

Lead investors include CoVenture.


Benitago Group Investors

Investors in Benitago Group by funding rounds participated
InvestorHQRoundsRoleFirst check
HSBC BankUnited KingdomUnited Kingdom1ParticipantNov 2021

This data is available for Pro users. Sign up to see all 3 Benitago Group investors.

Start Free Trial

Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples

Sign up to see data on 350K+ funding rounds and disclosed revenue and EBITDA valuation multiples, from seed, through growth stage, to pre-IPO.

Start Free Trial

Benitago Group Competitors

Benitago Group competitors include listed companies like Alibaba Group and Beijing United, and private ones like Dutchie, GrubMarket, Infra.Market and Moglix.

Public and private companies comparable to Benitago Group
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
Alibaba GroupChinaChinaPublicly listed$153B$15B$266B1.6x
DutchieUnited StatesBend, ORPrivate$45M-$3.8B83.3x
GrubMarketUnited StatesSan Francisco, CAPrivate--$3.5B-
Infra.MarketIndiaMumbaiPrivate$1B-$2.8B-
MoglixSingaporeSingaporePrivate--$2.5B-
Beijing UnitedChinaChinaPublicly listed$7.6B$373M$2.2B0.2x

Benitago Group Public Comps

Benitago Group is still privately-owned, but its public comps include Alibaba Group, Carvana, Shein, JD Health, Wayfair, Lenskart, Chewy, Zozo, Global-e and MonotaRO.

Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
Alibaba Group$153B$15B1.7x1.6x17.5x13.0x
Carvana$20B($110M)3.7x2.9x(691.4x)27.7x
Shein$42B$2.3B0.2x-3.5x-
JD Health$11B$713M0.6x0.6x9.8x8.6x
Wayfair$12B$120M1.3x1.2x136.4x19.8x
Lenskart$916M$189M13.3x11.6x64.8x55.5x
Chewy$13B$377M0.7x0.7x23.6x10.6x
Zozo$1.5B$490M4.4x4.3x13.0x12.5x

This data is available for Pro users. Sign up to see all Benitago Group competitors and their valuation data.

Start Free Trial

Common questions about Benitago Group

When was Benitago Group founded?Benitago Group was founded in 2016.
Where is Benitago Group headquartered?Benitago Group is headquartered in New York City, NY, United States.
Is Benitago Group publicly listed?No, Benitago Group is a private, VC-backed company.
How much funding has Benitago Group raised?Benitago Group has raised $380M across 2 funding rounds.
What was Benitago Group's last funding round?Benitago Group's last funding round was a $325M Series A in November 2021, led by CoVenture.
Who are Benitago Group's investors?Benitago Group's investors include HSBC Bank, CoVenture and Private Ventures Group.
Which companies are comparable to Benitago Group?Companies comparable to Benitago Group include Alibaba Group, Dutchie, GrubMarket, Infra.Market, Moglix and Beijing United.

See companies similar to Benitago Group

Start Your
Free Trial Today

Try Multiples for free for 3 days. Got questions or need a demo? Schedule a call with us below.

Start Trial