EXCESS2SELL POSTS Rs 100 CRORE TURNOVER IN THIRD QUARTER OF FY 2019-20

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.

Speaking on the achievement made by the startup, which is just 3 years old, excess2sell founder and CEO Rajan Sharma said, “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 24x7 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 24x7, 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,”

“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.

Read More About Excess2Sell

Author image

About Chayanika Goswami

  • Assam
You've successfully subscribed to StartupTalky
Great! Next, complete checkout for full access to StartupTalky
Welcome back! You've successfully signed in.
Success! Your account is fully activated, you now have access to all content.
X