We will scale up so that we will be able to liquidate 2 million units a month within 2 years.
FAQs
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- We have started operations in the US and Europe, six months ahead of schedule, after securing $40million of stock for resale. This followed the build of our proprietary cloud tech stack and stock triage software.
- We have built a proprietary technology solution that allows us to economically triage and grade the stock on a global level. We can also harvest all the necessary product detail.
- The reverse supply chain market grew considerably during the COVID pandemic and is growing at around 35% annually. Many retailers are sending around a third of all overstocks and returns to landfill as it becomes uneconomical to put back into the market. Retail value is also leaked by low value liquidators who re-sell through fire sales with resulting damage to brand equity.
- Several high-profile investors are already on board, including the Silicon Valley based Tenacity Venture Capital, led by Ben Narasin. Also we have been backed by Plug and Play, the global accelerator based in Silicon Valley.
- The US retail returns and overstocks market has grown to $762bn after the explosion of e-commerce during COVID. Globally the market is estimated to be more than $2 trillion due to the pain points in the reverse supply chain.
- We are just closing our latest investment round, which has raised considerable interest. Our pre-Seed investment round was oversubscribed by 105%.
- We are still in our infancy but have already launched in the US and Europe after securing 1.2 million retail products for resale. This has reduced the volume of landfill by 380 cubic metres.
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