Sequoia-backed refurbished goods marketplace GoZefo secures $3 Mn fresh funds

GoZefo
Image credit: ZEFO

Used goods marketplace GoZefo has raised around $3 million led by New York-based FJ Labs. Existing investors of the Bengaluru-based startup such as Sequoia Capital and Helion Venture Partners also participated in the round.

According to a VCCircle report, FJ Labs (co-founded by Olx founder Fabrice Grinda) has infused around Rs 10 crore in this round.

The development comes after a year for GoZefo when it raked in around Rs 60 crore Series B round from Sequoia, Helion, and Beenext. The trio had also led $6 million Series A round in November 2016.

Floated by Arjit Gupta, Rohit Ramasubramanian, Himesh Joshi and Karan Gupta in 2015, GoZefo is a marketplace to sell and buy used goods, currently serving two categories—appliances and furniture.

Present in Bengaluru, Mysore, Delhi, Gurugam, Noida and Mumbai, the company started with furniture and appliances. Two years later (in August 2017) it expanded into the smartphone segment.

Currently, Zefo provides a decent range of catalogue in the aforementioned categories. It counts furniture focused marketplaces such as Pepperfry and Urban Ladder and horizontal platforms – Flipkart and Amazon as sourcing partners.

At Zefo, prices vary from 20 to 75 per cent of the original product’s price depending on the level of certification. Post-purchase, its warranty ranging from 3 to 12 months.

Besides online presence, the firm also built offline experience centres ‘The Zefo Store’ which lets users experience product before purchasing them.

GoZefo competes with a slew of companies including Refabd, Tradly and Max Deal. However, they are small in operations as compared to GoZefo.

Recently, Flipkart also forayed into refurbished goods with dedicated platform 2GUD. At present, it’s dealing with gadgets and smartphones. It’s likely to expand into other categories like appliances and furniture.

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