Announcement

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We have some good news about securing our future together. In the wake of COVID-19, we have raised a minority investment with the Canadian Business Growth Fund (CBGF). Our intent now is to expedite our ramp-up and increase our capacity. At a time when the health and safety risks of alternatives are high, we are ready because how we sell matters.

We are thankful for this team milestone which has been achieved through the care and effort we all put into serving our customers through an economic model that allows us to say yes to every customer without judgement. The core values and teamwork that got us here will continue.

These are still uncertain times, but we intend to continue our vision of providing everyone access to a reliable, efficient, safe, and transparent downsizing or estate sale. This investment will be used to expand investments in innovation and customer experience to accelerate on our vision. With our agile and customer focused team, along with our partnership network, across all regions served by MaxSold, we are starting a new chapter in our service to customers.

Press Release

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MaxSold, North America’s largest downsizing and estate service platform, secures private sector funding to accelerate growth

For those downsizing or settling an estate, MaxSold solves the daunting problem of how to sell everything in a limited amount of time.

TORONTO, ONTARIO JUNE 2, 2020 Canadian Business Growth Fund (CBGF) recently completed a growth equity investment in MaxSold Incorporated. MaxSold is the leading solution for enabling the downsizing of homes for seniors, estates and empty nesters, in an efficient and environmentally friendly manner. MaxSold’s unique local marketplace connects buyers to unique treasures as well as everyday goods near them in 35 metropolitan areas across North America.

"MaxSold is a scalable business with a great opportunity to target a growing demographic. We have been impressed with the business the MaxSold team has built to date, with an innovative model in a growing market that is ripe for a better solution.” said George Rossolatos, CEO of CBGF.

This milestone investment is a testament to MaxSold’s strong growth and cross-border expansion while being cash efficient. MaxSold is on the Canadian Business’ Growth 500 list for the past two years, and Financial Times 2020 ranking of fastest growing companies in the Americas.

“There is a clear alignment with CBGF on the long-term vision.” said MaxSold CEO, Sushee Perumal. “We have always focused our resources on delivering value to our buying and selling clients. This funding round enables MaxSold to invest in growing our markets at a faster pace.”

Environmental impact is a priority, with tons of usable items kept out of landfills each year through MaxSold. MaxSold employs a safe, simple and fast process that avoids waste of usable goods, usage of consignment shops, time consuming one-by-one sales and intrusive traditional content sales where a majority of useful items are left over.

MaxSold’s services are provided through its local team members and a growing partner network of senior move managers, professional organizers, trust officers, estate lawyers, real estate professionals, auctioneers and resellers.

"The MaxSold option has set me apart from others offering similar services, and increased my business at the same time. MaxSold is a great solution for emptying a house quickly, and defraying the costs of doing so." said Robin Abb, Smooth Transitions, Washington State. The contents are sold on the company’s online auction platform. In less than two weeks and with just two onsite visits, MaxSold can clear a home or business, selling on average 98% of the items. Everything from tea cups to cars are sold through competitive online bidding.”

About MaxSold
MaxSold Incorporated operates in 35 metropolitan areas in Canada and the U.S. to help people to clear household contents. Working directly with downsizing, estate and relocation clients, and with over 500 partner companies in the elder care and relocation industries, MaxSold has already helped over 16,000 clients sell over 1.8 million items. Visit maxsold.com to learn more.

About CBGF
The Canadian Business Growth Fund (CBGF) provides long-term, patient, minority capital to ambitious entrepreneurs to fund growth and expansion of mid-market businesses with investments between $3 to $20 million. An evergreen investment fund with capital commitments of $545 million, CBGF is committed to long-term partnerships with the companies it invests in. As part of its mission to drive growth, CBGF connects business leaders and sector experts to help its partner business achieve their full potential. For companies seeking investment opportunities, please email us at contact@cbgf.com. To learn more, please visit us at www.cbgf.com.

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