Tuesday, November 10, 2020

TrustClarity raises $300k in Pre-Seed Funding to bring its Circular Economy friendly Storefront Platform to market

CHICAGO, Nov. 10, 2020 /PRNewswire/ -- TrustClarity Inc., a B2B software as a service (SaaS) storefront platform, announced today that it has closed a pre-seed funding round of $300,000 with participation from Baskar Puvanathasan (Co-founder at PagerDuty), Ninetwenty Capital, Sim Nation, Vel Investment Holdings and CRS Recycling Services, along with angels who are former senior executives in the enterprise telecom and logistics industries.

TrustClarity creates turnkey B2B storefronts to provide companies with a simplified, trusted and sustainable way to sell and buy, new, refurbished and excess inventory.  "Long product delivery times and fluctuating customer forecasts often cause companies to over-order inventory, resulting in high volumes of new and excess products moving to landfill waste.  We recognized this industry challenge and developed a platform to better connect buyers and sellers, who are supportive of the circular economy and encourage the redeployment of unused and excess inventory. We did this by leveraging cutting edge technologies to create inter-connected customer storefronts that help to expedite the search, payment and delivery of trusted products," said Sujee Jeganathan, TrustClarity's Founder & CEO.

"When I first spoke to Sujee about TrustClarity, I immediately saw the market potential in helping sellers create connected storefronts. The platform addresses some of the many pain points in our industry. We did not hesitate to both invest and become a customer," said Bennett Duval, Managing Partner at CRS Recycling Services. 

TrustClarity is set to launch with its initial customer base at the end of this month.  The financing will be used to fund development of the platform, continued onboarding of customers and launch activities.

About TrustClarity

TrustClarity creates B2B marketplace storefronts that help companies sell products, while assisting buyers with the resale of any excess products they may have purchased due to changes in market demands. The organization utilizes Web 3.0 and blockchain technology to create connected storefronts in a fast, easy and trusted manner, for new and excess inventory. The TrustClarity marketplace is relevant across a variety of B2B industries, and initially has a focus in the Telecommunications and Energy sectors. It is uniquely positioned to help companies who frequently purchase or sell products with long product delivery times, high minimum order quantities, and fluctuating market demands, often resulting in excess inventory.

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