The operator of a website that helps retailers and manufacturers sell surplus stock to trade buyers has raised funds to complete an acquisition.
The operator of a website that helps retailers and manufacturers sell surplus stock to trade buyers has raised funds to complete an acquisition.
e-trader, which owns Stockshifters.com, has secured an equity investment of £1.2 million from London venture capitalist MMC Ventures, enabling it to acquire consumer-focused Koodos.com. The move extends e-trader’s business into the designer fashion marketplace.
Ben Richardson, investment director for MMC, says the market for the sale of clearance stock is ‘large and fragmented’. Trade buyers using Stockshifters.com range from independent traders selling online or on market stalls, through to large distributors and wholesalers.
Koodos.com was established in 2006 and is based in London. It sells designer-branded clothes at discounted prices.
