Buywander raises $21 million to grow its returned‑goods auction platform
Buywander secured $21 million in fresh funding in a Series A round led by Madrona Venture Group and Inspired Capital The round brings the Seattle‑based startup’s total funding to $28 million
The company will use the capital to accelerate national expansion, invest in technology, and grow its leadership team. Buywander operates eight warehouses across the United States—in Spokane, Kent, Portland, Salt Lake City, Sacramento, Denver, Chicago and Minneapolis—where winning bidders collect their purchases. On any given day up to 40,000 items are listed for auction, each opening at a $1 bid in timed online sales. About 70 % of the listed inventory consists of returned goods, with the remaining 30 % classified as overstock.
“Scaling this model market by market takes real infrastructure from warehouse operations, to reverse logistics and retailer relationships,” Brock Kowalchuk, co‑founder said.
“Buywander is solving a problem that’s only getting bigger. Retailers are drowning in returned and overstocked inventory, and there’s never been a good local solution for moving it,” Alexa von Tobel, founder and managing partner at Inspired Capital said.
Jordan Allen and Brock Kowalchuk launched Buywander in 2023
What we know
Buywander, an auction-based marketplace for returned and overstocked retail inventory, has just secured $21 million in fresh funding.
This brings the Seattle-based startup’s total funding to $28 million.
The highest bidder picks up the items from one Buywander’s eight warehouses across the United States.
On any given day, Buywander says it has up to 40,000 items in auction across its locations.
The company said 70 percent of its inventory are returned items while the remaining 30 percent are overstocks.