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United States : MOVE LOOT closes on $2.8Million seed round of FUNDING

June 17, 2014

A $2.8M seed round of funding has been raised by Move Loot, co-led by First Round Capital and Index Ventures.

The San Francisco start-up says other participants, covers Google Ventures, SV Angel and Y Combinator.

Move Loot would utilize the funds for geographic expansion and supply chain enhancements to improve the customer experience.

It is projected by Bill Bobbitt to expand to at least two additional cities by the end of 2014.

Bill Bobbitt, co-founder and CEO of Move Loot stated,"We recently moved to a new warehouse that's six times the size of our original unit because we were so capacity constrained. There is no shortage of people looking for an easy and affordable furniture solution".

He further continues,"We knew that we could use technology to create these great local marketplaces and enable people to sell and buy perfectly good used furniture that deserves another chance. Quality furniture holds its value surprisingly well, and we're hoping to play a part in changing consumer behavior away from the current trend of buying cheap, disposable pieces."

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Source: TendersInfo (India)