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Excess2Sell posts three fold rise in revenue in FY23, losses touch Rs 3 Cr

  • March 19, 2024
  • By Team TheKredible
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Eight-year-old e-commerce company Excess2Sell witnessed its overall revenue scaling up to Rs 361.84 crore in FY23, a 3.4X rise as compared to the preceding fiscal year’s Rs 106 crore.

Mimicking FY22, it saw almost the entirety of the revenue coming in from operations in the last fiscal as well.

Excess2Sell is a is a technology driven B2B services platform for Indian SMEs which bridges the gap between the B2B sellers and buyers to connect them with each other and assist them to liquidate their overstock into cash. Founded by Rajan Sharma and Anant Chaturvedi, the platform is currently present in over 50 cities in the country.

The Mumbai-based firm has raised a total of over Rs 13 crore through four funding rounds since its inception in 2016. It last raised about Rs 1.2 crore from angel investors like Gautham Madhavan, Aashish Pitale, Harinder Singh, Sandeep Vyas among others.

After the round, Smita Sharma, Anant Chaturvedi, and Navinder Singh Chauhan all each held over 20% of the company’s shares while repeat angel investor Gautam Madhavan owns more than 8% shares.

Prior to this it has scooped up over Rs 7 crore in 2020 with Gautham Madhavan leading the round. The company’s valuation currently stands at Rs 26,35 crore.

As for its expenses incurred for the year, the company spent a majority of over Rs 361 crore on the cost of materials. The previous fiscal as well saw the same segment leading the expenses chart.

Employee benefits costs and miscellaneous other expenses amounted to over Rs 1.8 crore and more than Rs 1.5 crore respectively.

Its losses for the fiscal year ending March 2023 ballooned 6X to Rs 3.3 crore in comparison to FY22’s Rs 54 lakhs. Its EBITDA margin and ROCE dropped to -0.80% and -416.93% the same year.