Thrift Recycling Management, Inc. (TRM), a Lakewood, Wash.-based seller of used books and consumer goods on the internet, has closed an $8.5m growth equity financing.
The investment was led by QuestMark Partners, with participation from the company’s largest individual shareholder.
In the trasaction, TRM was advised by Cascadia Capital.
As also stated by Phil McMullin, CEO and co-founder of the company, TRM intends to use the funds to accelerate growth and reach a leadership position in the recycled consumer goods space.
Founded in 2004, the company recycles used merchandise products, including books, clothing, toys, electronics, and kitchenware for resale in the United States and internationally. TRM sells product on-line, wholesale to other retailers, and through its own retail location.
It has operations nationwide, including the Pacific Northwest and British Columbia (Canada).