Fyndiq operates an online marketplace that lets merchants and brands sell bargain-basement and end-of-run goods, often at discounts of up to 70%. The platform never carries its own stock, charges sellers a 5% fee only on items sold, and provides logistics to deliver purchases. It hosts roughly 230,000 products and focuses on shifting slow-selling or overproduced items. CEO and co-founder Dinesh Nayar and four other co-founders remain the majority shareholders. Financially, the company made about $1 million in 2011, posted $17 million in sales for the year ended April 2013, expects $27 million the following year, and recorded a $2.3 million loss last year but expects to swing into the black this year. The company plans to use new funding to expand internationally, targeting the UK, Germany and Poland.

Total raised

$20M

Funding rounds

1

Latest round

Equity

Latest activity

Nov 2014