AUSTIN, TX – The Heavy Equipment Exchange, the world’s first online, dealer-only wholesale marketplace for the global trade of both on-and off brand heavy equipment, announced today that it has closed a $1 million seed funding round led by BRCG.
John Fleming, CEO of The Heavy Equipment Exchange said, “It’s great to have marketplace validation from such a strategic investor and we are pleased that not only did this investment from BRCG provide added exposure in the US but also the benefit of an international position in the global heavy equipment industry.”
Recently launched, The Heavy Equipment Exchange (THE Exchange) accelerates transactions by bringing together vetted original equipment and independent dealers in the construction, road building and related heavy equipment industries on a smart, patent pending, secure, cloud-based SaaS platform.
THE Exchange will use its seed investment to enhance its technology, grow its team, and expand its membership base.
“Not only did we recognize the fact that THE Exchange will disrupt the heavy equipment market as it operates today but also the global aspect of THE Exchange and the potential of their patent-pending technology to broaden the industry focus in the future,” said Barry Conlon, Founder and Principal, BRCG. “The investment in THE Exchange is an opportunity for Irish based investors to enter the US and participate in a global wholesale market platform.”
THE Exchange facilitates efficiency while reducing costs by aggregating buyers and sellers in a specialized wholesale marketplace. Utilizing its state of the art technology, THE Exchange will enable more transactions faster at normalized market pricing. Connecting decision makers in a dynamic trading environment provides higher dealer margins and lower cost to move surplus, off-brand trade-ins, and reduce lost sales with increased effectiveness of invested capital.
“We are fortunate to have developed a breakthrough technology that delivers a secure, efficient, and money saving solution that eliminates the archaic pain points of buying and selling heavy equipment,” Fleming added.
About The Heavy Equipment Exchange
The Heavy Equipment Exchange (THE Exchange) is the world’s first, dealer only, private online wholesale marketplace for the global trade of used heavy construction, earthmoving and related equipment. THE Exchange accelerates cross-brand trade by bringing together original equipment and independent dealers on a smart, patent pending, secure, cloud-based SaaS platform. Global Exchange members connect and work directly with one another to instantly buy or sell inventory in an easy to use secure and trusted environment eliminating middlemen and pricing inefficiencies. By linking decision makers in a real-time transactional environment, THE Exchange facilitates fast transactions at normalized market prices, for higher margins and less cost.
For more information, visit: www.theheavyequipment.exchange