Thrasio, the giant firm buying up Amazon 3rd-party sellers, adds JCPenney exec as CFO and $100 million in new funding

• Longtime retail executive Bill Wafford is joining the c-Suite of Thrasio.
• Thrasio is dedicated to buying up and scaling successful Amazon brands.
• Are you an Amazon seller with a story to share? Email acain@insider.com.

Thrasio has brought in a longtime retail executive to serve as its chief financial officer, as the company seeks to buy up even more of Amazon's increasingly lucrative third-party sellers.

Thrasio is an e-commerce business that focuses on acquiring and scaling third-party brands native to Amazon. The company touts itself as "the largest acquirer of Amazon FBA brands," with a roster of 100 "top-rated brands" and 15,000 products.

Read more: Big firms are popping up to buy third-party Amazon sellers, who made up more than half of the retail giant's $386 billion in net sales in 2020. Here are the biggest players in this fast-growing trend.

Amazon sellers have blossomed into a major business over time, a trend highlighted by Thrasio's fast growth. During the online giant's most recent Prime Day, third-party sales spiked to over $3.5 billion, beating out the company's retail business.

On the hiring front, Bill Wafford will now be joining the company's C-suite, as CFO. He previously served as the CFO of JCPenney and The Vitamin Shoppe, and his résumé also features companies like Target and Walgreens.

"Bill is the perfect addition to our visionary and innovative management team with deep experience in ecommerce, operations, technology, and M&A - a team more than ready to catapult us through the next chapter of this amazing journey," Thrasio co-founder and co-CEO Josh Silberstein said in a statement to Insider.

The company also announced that it's raised $1.35 billion since December. Its latest $100 million Series C tranche was led by Advent International, a private equity firm.

"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," said Bill Wafford, Chief Financial Officer. "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."

Are you an Amazon seller with a story to share? Email acain@insider.com.