US-based liquidation sales management service B-Stock Solutions secured $7m on Wednesday in a series round led by Susquehanna Growth Equity (SGE), the private equity affiliate of trading and technology company Susquehanna International Group.
Venture capital firm True Ventures, which previously led B-Stock’s $1.2m series A round in 2009, also took part.
B-Stock provides retailers and manufacturers with a service to increase the financial recovery on the sale of returned products and other excess inventory. The funds will be used to accelerate the growth of its liquidation business, with money put toward additional hiring and product development.
Howard Rosenberg, chief executive of B-Stock Solutions, said: “B-Stock has transformed traditional liquidation methodologies into a data-driven, technology-based process that is both operationally more efficient and yields higher prices.
“We are thrilled that SGE shares our vision for the business and will be joining our team.”
Following the round, Amir Goldman, managing director at SGE, will join B-Stock’s board of directors.