ReFit Global, a direct-to-consumer (D2C) refurbished marketplace, has raised Rs 2 crore at Rs 200 crore valuation from Shark Tank judges inclduing Anupam Mittal, Vineeta Singh, and Amit Jain.
The proceeds will be used to ramp up operations, broaden market outreach, and fortify the company’s technological infrastructure. Additionally, ReFit Global plans to enhance its web presence and overall customer experience.
Founded by Saket Saurav, Avneet Singh, ReFit Global has a network of over 50,000 retailers across nearly 100 cities. The startup said it aims to achieve its target of becoming a Rs 1,000 crore profitable firm within the next five years.
“Our primary focus was to create a dynamic alliance with a diverse group of accomplished sharks, each contributing their distinctive insights and expertise. With this opportunity, we are aiming to bring in a clearer vision and market positioning for ReFit,” said Saket Saurav, founder and CEO, ReFit Global.
The bootstrapped firm claims to have achieved 100x year-on-year growth, securing Rs 200 crore in FY23.
