The latest $100 million tranche closes out Series C, and brings total capital raised since December to $1.35 billion, following recent announcements that Thrasio had closed on almost $500 million in debt financing and $750 million in equity financing. Thrasio made room for existing investors that could not get enough capacity in prior rounds. These Series C-3 investments were made at a 50 percent step up in valuation relative to the last round.
Thrasio also announced the appointment of global retail and consumer brand industry veteran Bill Wafford as chief financial officer. Wafford joins Thrasio from JCPenney, where he served as chief financial officer. A seasoned finance expert with a consumer-focused background, Wafford was formerly the CFO at another public company, The Vitamin Shoppe, and held senior financial roles at Target and Walgreensin the U.S. and overseas leading the expansion of their venture capital portfolio and driving profitability of their retail businesses.
"Thrasio's trajectory and the speed at which it has achieved growth is impressive to say the least, especially how they've capitalized on the market changes that have occurred over the last twelve months," says Wafford. "I've been delighted to discover an energizing, team-minded culture that embraces experimentation and adaptability. I'm thrilled to take on the role to prepare the organization for its next phase of growth."
"Bill is the right person to steer our financial organization through Thrasio's next chapter," says Josh Silberstein, co-founder and co-chief executive officer, Thrasio. "Bill's extensive experience as a leader at multi-billion-dollar global retail and consumer brands and his strong understanding of complex marketplaces will be invaluable to Thrasio as it continues to expand into new geographies and channels."
Joe Falcao will also move into a newly created role as senior vice president, finance and treasurer, helping Thrasio scale its treasury, tax and international finance functions.
"Joe has helped us navigate all of our biggest milestones, and we're grateful for his team's hard work in getting us to this point," says Carlos Cashman, co-founder and co-chief executive officer, Thrasio "Our management team is formidable – a seasoned group of experts with tremendous, combined experience at acquiring, developing and growing global consumer brands."
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