Razor Group becomes a unicorn after financing round
The Razor Group buys up Amazon stores and continues to operate them more profitably. The Berlin-based company has now raised 125 million US dollars and achieved unicorn status.
The Razor Group from Berlin has completed a Series B financing round in the amount of 120 million US dollars. This is reported by Techcrunch. As a result, the company's total valuation rose to over one billion euros. The start-up has thus achieved unicorn status. Investors include the Fortress Investment Group, 468 Capital, Blackrock, Jebsen Capital, Redalphine and Global Founders Capital.
Razor plans to use the capital for acquisitions and new hires. It also plans to expand its presence in China. According to Techcrunch, the start-up currently has around 80 retailers in its portfolio. Razor is also said to have identified a further 80,000 potential stores for purchase via its platform.
The Razor Group was founded in Berlin last year and buys Amazon stores in order to continue operating them more profitably. The start-up also has offices in London, New Delhi and Austin.
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