E-commerce for Used Goods Zefo Raises $9 Mn funding

The Used Goods Markets has witnessed a change in the scene since e-commerce came into the picture. Moving with times, the used goods are not difficult to dispose of at all. GoZefo, a Bengaluru based startup is founded in 2015 by Arjit Gupta, Rohit Ramasubramanian, Himesh Joshi, and Karan Gupta have taken care of addressing the easy disposal and acquisition of second hand and factory seconds furniture, home appliances and mobile phones too. It is operational in Bengaluru, Delhi-NCR, and Mumbai.

As per the company statement, since its inception, the e-commerce marketplace has served more than 150K customers and lists around 10,000 products. Since November 2016 funding of $6 Mn the startup claims to be growing by 30% every month.

The way the Zefo manages end to end operations is quite remarkable. It includes product refurbishment and repairs of the products sold on its marketplace to add value to the sale. Going further, Zefo also offers buyback guarantee on its products wherein they offer 70% of the price back when the users sell the products back to Zefo.

The ever-growing India’s e-commerce market is projected to touch $220 Bn by 2025 as per a recent Zinnov report. E-commerce marketplace has two components one is the online resellers and other is of the used goods. The online resellers which are run by individuals are expected to grow to $48Bn-$60Bn by 2022 and the market share is expected to rise from the 1.2% at current to 5.4% in future. The second component is the used goods e-commerce market which has OLX, Quickr, and eBay India a part of Flipkart.

Zefo is the answer for the moving population in metro cities who do not want to spend excess money or time to set the new place. The buyback option and warranty provided to the goods adds value and will certainly go a long way in creating a loyal customer base.

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