Antler has provided $110K in pre-seed funding to Malaysian startup SurplusLoop, which manages surplus assets for asset-heavy enterprises.
Building the initial version of the Minimum Viable Product (MVP) and testing and validating the solution with current pilot partners are SurplusLoop’s top priorities with the investment. The money will be essential for creating the technological and service components of its MVP.
SurplusLoop helps businesses in manufacturing, hospitality, and construction with their surplus asset liquidation problems. The fragmented market makes the existing process time-consuming and complex.
Businesses usually deal with brokers who purchase low and sell high, recovering just around 10% of the asset’s market value on average. Surplus assets continue to deteriorate and incur warehousing costs when purchasers cannot be identified. Eventually, they can wind up in landfills when they could have been sold and used by other businesses.
The goal of SurplusLoop is to easily connect buyers and sellers. The platform links a network of businesses and precisely values assets like machinery and equipment through the use of predictive analytics, which makes use of a variety of statistical techniques and machine learning algorithms.
This strategy aims to give purchasers more value while effectively converting excess assets into cash for businesses to reinvest.
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The startup wants to simplify the whole end-to-end sourcing and liquidation process for businesses in the secondary market by developing integrated supply chain, fintech, and SaaS capabilities.
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SurplusLoop seeks to expedite businesses’ complete surplus asset management process by utilizing digital technology and taking an enterprise partnership strategy.
By extending the lives of assets through circularity in the B2B market, the firm is in line with the growing trend of the Circular Economy. In the B2B sector, this strategy helps businesses buy high-quality assets at competitive costs, reduce waste, promote sustainable growth, and cultivate a circular economy.
SurplusLoop enables businesses to purchase high-quality assets at competitive prices while cutting down on the quantity of waste that is generated by extending the lifecycle of assets through circularity.
About SurplusLoop
SurplusLoop is a one-stop excess solution transforming company asset management. To simplify surplus liquidation and secondary market sourcing, the B2B platform works with asset-heavy industries including construction, manufacturing, and hospitality.
