usell.com, Inc. (OTCPK:USEL) announced that it has entered into a security purchase agreement for a private placement of 7,700,000 common shares at $0.50 per share with 11 accredited investors for gross proceeds of $3,850,000 on November 16, 2017. The transaction included participation from Nikhil Raman, Chief Executive Officer, individual investor Robert Averick for $100,000, and one of the company’s largest shareholders Piton Capital Partners LLC for $1,000,000. The company intends to raise minimum of $2,000,000 to maximum of $4,000,000 in funding. The company will issue securities pursuant to exemption provided under Regulation D. The company received $2,000,000 in its first tranche close.