Why We Invested: Backchannel
Building the trusted infrastructure for branded inventory liquidation in LatAm
IGNIA invested in Backchannel because Guillermo Freire and Guillermo Arslanian are solving one of Latin America’s most stubborn retail problems: brands have no reliable way to move inventory that does not sell. They are building the infrastructure to fix it.
Excess inventory is one of the most persistent costs in consumer retail. Every season, brands bet on demand, and no forecasting tool can fully account for a missed campaign, a shift in taste, or an external shock. In Latin America, there has never been a reliable, brand-safe way to move what does not sell.
According to IHL Group, global overstocks cost retailers US$562 BN in 2023, while out-of-stocks cost US$1.2 TN.[1] The existing options all fall short: traditional liquidation destroys margin, discount platforms erode brand equity, and informal brokers offer neither the transparency nor the reliability global brands need.
Why Backchannel stands out
Backchannel lets global consumer brands sell excess, discontinued, or aged inventory to a vetted network of LatAm retailers without damaging their brand. Sellers set their own pricing, approve buyers one by one, and can list anonymously when they choose. Logistics, payments, and compliance are handled by the platform.
On the other side, Backchannel opens a fragmented base of buyers that traditional distribution overlooks, converting what used to be a dead end into a recurring revenue stream.
Early validation from the right customers
Backchannel launched in Brazil in early 2025 and is already working with Puma, Diadora, Levi’s, and Nike (brands that do not take chances with how their inventory moves). GMV is climbing quickly, retention is strong on both sides of the marketplace, and contribution margins are healthy.
“With Backchannel, we’re finally making money from our excess inventory.”
- Sales Director, PUMA Group
Why we invested
At IGNIA we invest in founders first. Guillermo Freire and Guillermo Arslanian previously built Trocafone, a B2B2C refurbished-electronics marketplace that scaled across Brazil and Argentina to nearly US$100 MM in revenue.
They understand that liquidation is never just about moving units: for brands, it is about pricing, channels, and reputation. Few teams are better equipped to build the category-defining platform.
We are excited to join Backchannel’s Series Seed round, led by Sunna Ventures, alongside Cathay Innovation, Accion, Savia Ventures, Preface Ventures, Latitud, Positive Ventures, and Norte Ventures. Congratulations to Guillermo Freire, Guillermo Arslanian, and the entire Backchannel team as they reshape how excess inventory moves across the region.
[1] IHL Group, “Retailers and the Ghost Economy: $1.77 Trillion Reasons to Be Afraid,” 2023.