Founded in 2021 by former Uber executives Utsav Agarwal and Pulkit Chhabra, Evenflow aggregates third-party sellers on e-commerce platforms such as Amazon and Flipkart. This online marketplace receives sellers in the range of $200k – $1.5 million per brand.
“Supply chain is the backbone for all e-commerce businesses. Shiprocket has established itself as a leader in fulfillment and last-mile logistics. We partner with them to bring the best practices from the industry to all those businesses. We are extremely excited to partner with and work with. Shiprocket has built scalable solutions for the third party vendor ecosystem. We are excited to leverage them to support the many brands under our portfolio Utsav Agarwal, Co-Founder and CEO, Evenflow said.
ShipRocket is an AI-enabled logistics platform that enables D2C vendors to deliver an unmatched customer experience. To make shipping easy, the brand brings together the major courier partners on a single platform which helps sellers to choose and compare all the shipping options.
Shiprocket also provides other value-added technology services that merchants take advantage of, such as warehousing and fulfillment, packaging, revenue-based financing, and more.
“With our collaboration with Evenflow, we aim to strategically focus on mitigating the risks involved in the supply chain and work together to deliver this common objective. Evenflow helps businesses reach their full potential. We are known to help and Shiprocket looks forward to supporting them in this endeavour,” said Vishesh Khurana, Co-Founder, Shiprocket.
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Unlike other Thresio-style rollups that focus on D2C brands, Evenflow focuses heavily on third-party sellers across markets and gets them at EBITDA multiples, not revenue multiples. Evenflow is acquiring third party e-commerce vendors with attractive product portfolio and aims to establish them as solid brands across multiple categories in e-commerce.
There is a wide breadth of vendors in different categories and it is increasing year by year. In 2020, more than 700,000 sellers signed up for Amazon India, making it the most of any Amazon marketplace globally. Furthermore, globally, third-party sellers on Amazon exceeded $300 billion in GMV and are expected to reach $650 billion in GMV by 2025. Though they have a good product portfolio, they do not have the expertise and capital where e-commerce aggregators become the promoters.