Mumbai: Bengaluru-based used goods marketplace Zefo said on Monday it has raised Rs40 crore (approximately $6 million) in a funding round led by venture capital firm Sequoia India, with participation from Beenext and existing investor Helion Venture Partners. Zefo is a marketplace to sell and buy used goods, currently serving two categories—appliances and furniture. According to Ramasubramanian, co-founder of Zefo, the idea behind launching Zefo was to solve the key issues of trust and convenience that faced buyers and sellers of used goods. Ramasubramanian said that in the long run, Zefo will also enter the consumer electronics category—another major used goods category. Apart from serving individual buyers and sellers of used goods, Zefo also helps several online and offline retailers with their exchange programmes.

Source: Mint November 15, 2016 02:23 UTC