Online Used-Furniture Marketplace Zefo Bags $9 Mn in Series B
Zefo, an online marketplace for pre-owned furniture and appliances has recently raised Rs 60 crore(around $9 million) from Sequoia Capital India, Helion Venture Partners and Beenext Pte. Ltd in a Series B round.
Based out of Bengaluru, the Silicon Valley of India, Zefo will be using the funds to widen up its operations, expand inventory size and better customer support.
Zefo, owned by Zero Effort Technologies Pvt Ltd, started in 2015 by selling used furniture and home appliances in Bangalore and has now spread to other tier 1 cities, such as-Mysore, Delhi, Gurgaon, Noida and Mumbai.
Zefo currently has 10,000 products that includes sofas, beds, tables, wardrobes, TV, Refrigerators and other furnitures.
More than half of inventory is sourced from consumers who sell used products....