Flummox raised €11.8 million in a funding round backed by Fasanara Capital and angel investors from Italy.

Flummox, a Swiss-based startup buying and managing digital shops on Amazon and Spotify, announced raising €11.8 million ($12.9M).

The money was raised from investors led by Fasanara Capital and joined by an Italian syndicate of angels, including Raffaele Terrone, founding partner and CFO at Scalapay, and Stefano Pardi, former head of e-commerce at Facebook.

Flummox, founded in 2020 by Marc Marshing and Olmo Tancredi Cassano, wants to acquire online consumer brands with yearly sales under $1 million active on Amazon or Shopify marketplaces, with the aim of scaling them across multiple online channels and having them become category leaders within 24 months.