Zefo goes for a makeover with Rs 60 crore from Sequoia

BENGALURU: Refurbished furniture and appliance marketplace Zefo has secured Series-B funding of Rs 60 crore from existing investors Sequoia Capital India, Helion Venture Partners and Beenext.

The Bengaluru-based company plans to use the new infusion of funds to optimise operations, deepen product portfolio and build the 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,“ said Rohit Ramasubramanian, co-founder of Zefo. “We also want to expand our mobile category, which was launched a few months ago.“

Zefo was founded in 2015 by Ramasubramanian, a former Helion Ventures executive, Karan Gupta, Himesh Joshi and Arjit Gupta. The company, which is present in Bengaluru, Delhi and Mumbai, intends to deepen its presence in the three cities before opting to expand its footprint.

Zefo procures supplies from marketplaces like Urban Ladder, Flipkart, Amazon India and offline vendors but more than 50% of its procurement comes from single sellers. The Zefo platform offers about 15,000 products across 14 categories and its buyback guarantee is a major driver of sales.