Max Retail, a West Palm Beach, FL-based marketplace for independent retailers and brands to sell excess inventory, raised $15M in Series A funding.
The round was led by Nosara Capital with participation from Rethink Impact, M13, The Artemis Fund, StandUp Ventures.
The company intends to use the funds to:
- more than double its sellers, focusing on serving specialty retailers and brands,
- bring new innovations, including an AI-powered pricing and allocating engine, and SKU-level insights to help retailers understand inventory performance and market value of every item listed on Max Retail.
Led by CEO Melodie van der Baan, Max Retail expands the reach of retailers’ and brands’ unsold inventory far past their storefronts through its network of online marketplaces partners where end consumers can discover and purchase this inventory. The company enables small retail businesses to become fulfillment partners of some of names in online retail today, reaching over 400 million consumers. It is a solution for small businesses to get paid the maximum value for excess inventory by connecting the supply of unsold inventory to a global network of demand.
Over the last twelve months, Max Retail has increased its seller payouts 3x. The company has also grown gross merchandise value (GMV) sold through the marketplace 4x year-over-year and is on the same trajectory for 2024, with 89% of active sellers having sold inventory every month of Q1.
Commenting on the news, Melodie van der Baan said: “With this investment, we will continue to grow our sales channel network and expand this excess inventory solution to support the full product lifecycle, giving independent retailers and brands the tools they need to increase their inventory turns and maximize cash recuperation on unsold goods.”
FinSMEs
22/05/2024