Mumbai: India’s largest online marketplace for excess inventory liquidation – excess2sell.com has posted a whopping Rs.100 crore turnover in the three quarters ending December 31st 2019. Starting from a revenue base of Rs.41.58 lakhs in 2016-17, it jumped an astonishing 3000 per cent in 2017-18 to Rs.12.9 crores. The revenue for 2018-19 clocked at Rs.70 crores, which was again over 500 per cent jump from the previous year.
“We have touched the magic figure of Rs.100 crore in our third year of operations, with one quarter still to go. Also with the 24×7 NEFT transaction facility made available from December 12th last year, we expect the next quarter growth to be significantly higher than the previous three quarters. We are increasingly upbeat about our performance this year, with the economy seeing signs of a revival from the slowdown. Though its early days to talk on the impact of NEFT transactions being made available 24×7, from whatever little data we have post December 12th, it seems to have made a small positive impact on our sales figures. This has to be studied over the next quarter to actually assess the impact of the move on the industry,” says Mr. Rajan Sharma, Founder & Chief Executive Officer, excess2sell.com.
“With the addition of the mobile handset category to our liquidation verticals, we won’t be surprised if we end up with final revenue close to the Rs.200 crore mark. This will be a seminal event in our short period of operations and the future only looks brighter from here. We are also eagerly awaiting the budget announcement in the coming month and expecting some sops for the start-up industries,” concludes Mr. Sharma.
About Excess2Sell: – Launched in March 2016, excess2Sell.com is India’s biggest online marketplace for ageing assets, reaching to 200,000 B2B businesses. It has a registered seller-buyer base of above 30,000 players and roughly transacts 10,000 deals across 11 verticals and in more than 500 categories of products. Conceived and created by Checkers India Technology, Excess2Sell is led by a team of experienced industry professionals in Business Management, Product Management & Alliances, Techno-Sales, Marketing, and Distribution & Retail. With a clear focus on Excess Inventory Marketplace, Checkers India Technology is poised to become an enabler in India’s growth story.