VarageSale Raises $34M in Funding

varagesaleVarageSale, a Toronto, Canada-based online marketplace for people to buy, sell and connect with their local communities, raised $34m in funding.

Backers included Lightspeed Venture Partners and Sequoia Capital. In conjunction with the funding, Jeremy Liew, partner at Lightspeed and Bryan Schreier, partner at Sequoia, joined VarageSale’s board of directors.

The company intends to use the funds for product development, community growth and expansion of its Toronto team.

Founded in 2012 by Carl Mercier, CEO, VarageSale allows people to find and propose deals, buy, sell and connect locally.
VarageSale’s local users act as administrators and moderate each community to ensure members have real identities and can transact in a safe environment.

The platform is free to use at www.varagesale.com and on the mobile app, which is available on for iOS, Android and Kindle devices.

FinSMEs

03/04/2015

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