Startup News

Gozefo – Used furniture start-up raises $9 million

Gozefo will utilize the funding to enlarge its operations, enhance client support, grow the used furniture stock and contract new ability, says CEO Rohit Subramanian

Bengaluru: Used furniture and appliance application Zefo, which works as, has raised Rs60 crore (about $9 million) in a Series B round from Sequoia Capital India, Helion Venture Partners and Beenext Pte. Ltd, the organization said in an announcement.

Zefo, possessed by Zero Effort Technologies Pvt. Ltd started off offering used furniture and home apparatuses in 2015. It now works in Bengaluru, Mysore, Delhi, Gurgaon, Noida and Mumbai.

Three months back, it started offering cell phones in some of these urban communities. It intends to include more classes later on.

It as of now has more than 10,000 items crosswise over classifications like beds, couches, eating sets, closets, TVs, clothes washers, fridge and air conditioner systems. It offers both used items and additionally unpacked products from makers. The organization was established in August 2015 by Rohit Ramasubramanian, Karan Gupta, Himesh Joshi and Arjit Gupta. It already brought $6 million up in November a year ago.

The greater part of the stock is sourced from shoppers who offer used items. It additionally sources furniture from web-based business commercial centers like Flipkart, Amazon, UrbanLadder, and Pepperfry. Clients on these stages trade their old furniture and apparatuses as an end-result of new items, while the used items go specifically to Zefo.

The organization revamps and repairs the sourced furniture and machines, and offers it on its platform. As indicated by CEO Ramasubramanian, the second-hand advertise is a low-confide in the market, and Zefo is endeavoring to comprehend it by bringing comfort to used products purchasers by putting resources into client mind and repairing.

“Our center concentration of offering an institutionalized, straightforward, high-trust and advantageous path for individuals to purchase and offer their items online has helped us set up our quality as the favored used products commercial center in the nation. We will keep on strengthening these viewpoints with focus on innovation and operations to additionally improve our client encounter,” Ramasubramanian said in an announcement.

The start-up cases to have developed from around 25,000 clients in 2016 to around 150,000 clients at present. Incomes are growing 30% consistently, Ramasubramanian told.

Its rivals incorporate greater internet business organizations like eBay which offers refurbished cell phones, tablets, portable PCs and in addition used books and PC/console games. eBay India likewise enables clients to offer their used items locally and universally. Aside from this, grouped entryways like Quikr and Olx additionally contend with Zefo.

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