Ghost has raised $30 million to grow its members-only B2B marketplace that helps brands and retailers move surplus inventory in its Series B funding round.
The capital, which was raised in conjuncture with round leader Cathay Innovation, is set to be used to enhance Ghost’s product, bolster its engineering and design team, and further develop the platform.
The Los Angeles – based organisation aims to provide brands and retailers with a new way to liquidate surplus inventory, allowing sellers to reach vetted buyers and monetise their surplus inventory discreetly and efficiently.
Ghost Co-CEO Dee Murthy said : “With Cathay Innovation, we’ve gained a partner with an extensive understanding of the retail industry along with invaluable connections to a global consumer ecosystem that will help Ghost reach brands across the U.S., Europe and Asia.”
As part of the investment, Cathay’s partner Simon Wu is set to join Ghost’s board of directors, he stated, “By allowing sellers to stop being ‘price takers’ and generate superior recovery rates while simultaneously granting buyers access to premium, highly sought-after inventory previously unattainable, Ghost grows the pie and creates win-win solutions for all parties.”
Existing investors Union Square Ventures, Equal Ventures and Eniac Ventures, all returned for the company’s latest funding round, that gives Ghost $68m in total venture capital to date and an increased valuation.
Previously, the California-based company had snared $20m in Series A capital to bolster its product.
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