Zefo offers 10,000 products across categories like beds, sofas, dining sets, wardrobes, TVs, washing machines, refrigerators and air-conditioners

Zefo

Zefo, an online marketplace specialising in second-hand and factory-second furniture and appliances in India, has secured INR 60 crore (US$9.2 million) in Series B round of funding from existing investors Sequoia Capital India, Helion Venture Partners and Beenext.

This funding comes a year after Zefo raised INR40 crore (US$6 million) in Series A funding led by Sequoia India.

The latest investment will go into optimising operations, deepening product portfolio and building technology and product teams.

“Operations are a core part of our business. So, we want to improve our logistics, warehousing and refurbishment and become more efficient. We also want to expand our mobile category, which was launched a few months ago,” said Rohit Ramasubramanian, Co-founder of Zefo.

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Established in 2015 by Ramasubramania, Karan Gupta, Himesh Joshi and Arjit Gupta, Zefo is a pre-owned and factory seconds marketplace for furniture and appliances, which promises a fair price, upfront cash, flexible pickups and a hassle-free and professional experience to sellers. Products are then quality checked, assessed, cleaned and disinfected before being made available for buyers.

With services available in Bangalore, Mysore, Delhi, Gurgaon, Noida and Mumbai, the company currently offers 10,000 products across categories like beds, sofas, dining sets, wardrobes, TVs, washing machines, refrigerators and air-conditioners.

More than half of inventory is sourced from consumers who sell used products. It also sources furniture from e-commerce marketplaces like Flipkart, Amazon, UrbanLadder and Pepperfry. Customers on these platforms exchange their old furniture and appliances in return for new products, while the used products go directly to Zefo.

Zefo is mainly competing with GreenDust, which in mid-2012 had raised US$40 million from Vertex Venture Holdings Ltd, Lightbox VC and Sherpalo Ventures; and India- and Singapore-based Blubirch, which secured US$2 million in angel funding in December 2015. Other companies operating in the refurbished goods vertical are gobol and Overcraft.

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