Online marketplace for second-hand goods GoZefo has reportedly raised an amount of around Rs 21 crore (close to $3 million) in a fresh round of funding. The particular funding round was led by stage-agnostic investment firm FJ Labs.
FJ Labs is a New York-based company co-founded by Fabrice Grinda who is one of the founders of online classifieds firm OLX. The company has put in around Rs 10 crore in this financing round.
The other existing backers that participated in this round include Sequoia Capital and Helion Venture Partners.
“The OLX co-founder is a very relevant investor for us. It was more of a chance to get him on board. It is strategic capital for us,” GoZefo co-founder Rohit Ramasubramanian said.
Prior to this, FJ Labs has invested in a number of companies including Chinese e-commerce behemoth Alibaba Group and US-based cab-hailing app Uber.
GoZefo is a Bengaluru-based company founded by Ramasubramanian, Arjit Gupta, Karan Gupta and Himesh Joshi in 2015. It is operated by Zero Effort Technologies Pvt. Ltd.
The startup has its existence in Bengaluru, Mysore, Delhi, Gurgaon, Noida and Mumbai. It offers appliances such as televisions, refrigerators, washing machines and microwave ovens, and furniture products including beds, sofas and dining tables.
Prior to this, GoZefo had raised $6 million (Rs 40 crore then) in a Series A round of funding in November 2016 led by Sequoia, with participation from venture capital firm Beenext and Helion.
Along with this, the company posted net sales of Rs 11.4 crore for 2016-17 and a net loss of Rs 30 crore. However, the company has not filed its financials for 2017-18 yet.