GETIDA Announces Strategic Investment for Its Platform for Amazon Sellers

Auditing and reconciliation services firm GETIDA has announced an investment from SIB Fixed Cost Reduction, a portfolio company of O2, a press release said.

Kevin Flounders, CEO of SIB, commented, “GETIDA is one of the most exciting solutions that we have encountered in the e-commerce space. The SIB family is glad to be investing in GETIDA’s future growth, and assisting in its global expansion plans. We also greatly look forward to working together with its incredible team.

GETIDA’s services work with data and analytics to offer recovery solutions for Amazon sellers. It works with advanced and proprietary technology to look at discrepancies. Its point is to make sure that Amazon sellers can get the best profitability possible.

Eytan Wiener, CEO of GETIDA, said they had been searching for the right investment partner “to grow and diversify.”

“I am thrilled that we have found SIB and O2 as strategic and financial partners. GETIDA now has significant capital and resources to further build out our technology and enter new global markets, while also being able to offer our platform users additional savings in areas beyond Amazon.”

But the venture capital market is seeing some rocky waters ahead as investors have been demanding higher and higher returns on capital to compensate for the risk in the volatile stock market. Factors like rising interest rates and high inflation have only further complicated things.

Read more: Startup Venture Debt Rising as Investors Grow Cautious

It comes after a 10-year boom when venture capital cash was plentiful. But startups are now instead facing more risk and debt, with investors going more for loans instead.

Global venture funding in February was $10 billion lower than in January, the report noted.

And venture debt has been up, totaling around $17.1 billion for the first half of the year – up 7.5% from the same time in 2021.

The landscape has seen bigger financial firms like Blackstone anticipating that venture debt will have more of a role going forward. Blackstone said it expects to loan $2 billion to growth companies in the next few years.