Surplex bags $27M in VC funding

Business to business marketplace, Surplex.com, has generated $27 million to fund the ongoing development of its surplus machinery portal

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By  Charlotte McDonald Published  January 25, 2001

Surplex.com, a business to business marketplace with regional operations in Bahrain, has pulled in $27 million of second round financing. Surplex.com focuses on the buying and selling of all types of used machinery.

“We believe that the continued support we are receiving demonstrates commitment to helping us grow our business internationally as well as providing us with the industry expertise in our key markets,” said Bruno Schick, CEO of Surplex.com. “This investment is a clear vote of confidence in the Surplex.com business model and we will continue to expand our market leadership in providing asset recovery solutions in Europe and around the world, particularly in the countries of the Middle East.”

Surplex.com says it has around 8,000 users are registered and around 12,000 items are on offer on the marketplace at any one time.

“Surplex.com has proven its ability to combine leading technology with strong offline expertise to create unique asset recovery solutions and generate significant revenues and efficiencies for corporate customers,” said Dieter Liebich,managing director, Surplex.com Bahrain. “Few investment opportunities in the new economy have demonstrated the strong operating results and the ability to leverage the Internet the way that Surplex has.”

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