Online second-hand marketplace Zefo Raises 40 Cr in Series A

Online marketplace for second-hand and factory second furniture and appliances Zefo has secured 40 Cr in a round led by Sequoia India, with participation from Beenext and existing investor Helion Ventures. The fundings will be used for geographic expansion, resource hiring, strengthening technology and adding new categories.

What sets Zefo different from its counterparts is their high degree of standardization through quality checks as well as managing end-to-end logistics, in an otherwise unorganized sector, thereby adding a layer of trust and convenience to this unstructured second-hand goods market.

“The household goods are a $40-50bn marketplace and the market is growing rapidly. Zefo is currently growing at a rate of 40% every month. Since our launch, we have already served 30,000+ customers, selling 400-500 products a day. Our ambition is to expand into new categories and cities in the next one year and to be the preferred shopping destination for used goods,” said Rohit Ramasubramanian, co-founder of Zefo.

“Our proposition of high-quality products at an affordable price is finding tremendous validation in a rapidly expanding market for second-hand consumer durables in India. We cater to the needs of today’s smart consumer looking for a quality lifestyle at a reasonable price,” he added.

“Zefo’s USP lies in its ability to bring the element of trust, reliability, and convenience in a market where these have been largely ignored. Their exceptional net promoter score is a testament to how well the service is resonating with both buyers and sellers on the platform,” according to Abheek Anand, Principal, Sequoia Capital India Advisors.