Excess2Sell has now secured $1 million in the funding round of the latest funding. The company has sourced the funding through the Private Equity Investor Gautham Madhavan, and as a part of the development, he joins the company Board of Directors.
Company which is founded by Anant, Rajan, and Navinder. It is a technology-driven marketplace via which it bridges the gap between the B2B sellers and buyers to connect them with each other and assist them in liquidating their overstock into cash.
“We are currently networked with 50-plus cities in India. We will be using the fund infusion to grow and expand our footprint and buyer-seller ecosystem to 100+ cities, enhance our technology back-end along with expanding our product line, increase our liquidation transactions in the coming year and strengthen our commitment to serve our partners”, says Rajan Sharma, Founder & CEO, Excess2sell.
The company is looking to use the fresh funding towards the enhancement of technology to offer seamless and automated solutions on its platform, expand and gain a wider reach, connect with more B2B partners from new verticals, and even assist them with liquidation of their surplus or ageing stock.
Commenting on the investment, Gautham Madhavan, Director at Florintree and Fedex Group of companies said,
“We believe that Excess2Sell can leverage synergies with our portfolio companies and are confident of building a sustainable hyper-growth B2B eCommerce business. B2B business needs an in-depth industry experience and the know-how of the different markets, geographies and dynamics. I believe the company has the right talent, assets and is at the inflection point to scale up.”