Berlin-based SellerX has raised $500 million in new debt and equity financing to buy up e-commerce brands and expand its stable of businesses selling goods on

Founded in 2020, SellerX is among a number of firms racing to acquire online retailers and create new consumer conglomerates. The company’s latest funding was led by Sofina, funds and accounts managed by BlackRock, and Victory Park Capital, valuing SellerX before the new investment at more than $1 billion, according to a statement.

Other investors participating in the financing included the Abu Dhabi Investment Authority and previous backers, taking SellerX’s total fund-raising so far to $750 million. Alongside the fresh cash, SellerX also said it had acquired KW-Commerce, a Berlin-based company that sells private label brands on Amazon and has more than $100 million in annual revenues.

The combined company will have more than 750 employees and 40 brands in the portfolio, selling 25,000 products. SellerX is focused regionally on the U.S. and Europe, and on selling products in perennially popular categories such as house and garden, pets and sports goods, co-founder Malte Horeyseck said in an interview.

“We’ve grown, made a lot of acquisitions, built out the teams and we’ll use the additional capital to fuel that growth,” said SellerX co-founder Philipp Triebel in an interview. “The market is huge and what we find is if anything we have seen an increased pace of acquisitions, and also if you look at our pipeline as well it is bigger than it has ever been.”

SellerX previously raised 100 million euros ($113 million) in funding led by investment firm L Catterton in August. Other investors in that round included Cherry Ventures, Felix Capital and 83North.