$15 million in Series A investment was secured by Max Retail, a platform for small merchants and brands to sell surplus inventory, located in West Palm Beach, Florida.
Investors
- Nosara Capital
- StandUp Ventures
- M13
- Rethink Impact
- The Artemis Fund
Use of funds
The business plans to utilize the money to:
- introduce new technologies, such as an AI-powered pricing and allocation engine
- SKU-level information to assist retailers understand inventory performance and market worth of every item listed on Max Retail.
- The company has more than doubled its sellers and is concentrating on supporting niche retailers and brands.
Max Retail has tripled its seller rewards in the last 12 months. With 89% of active sellers having sold goods every month of Q1, the firm has also increased gross merchandise value (GMV) sold via the marketplace four times year over year and is on the same trend for 2024.
“With this investment, we will continue to grow our excess inventory solution and expand our sales channel network to support the full product lifecycle, giving independent retailers and brands the tools they need to maximize cash recuperation on unsold goods and increase their inventory turns.”
Melodie van der Baan
About Max Retail
Under the direction of CEO Melodie van der Baan, Max Retail uses its network of online marketplace partners to connect end users and enable them to find and buy unsold inventory from merchants and brands outside of their physical shops. Reaching more than 400 million customers, the firm makes it possible for small retail enterprises to collaborate with some of the biggest brands in online shopping today as fulfillment partners. It’s a way to link unsold inventory supply to a worldwide demand network so small companies may be paid the most for their surplus goods.
