Sequoia-backed refurbished goods marketplace GoZefo
Bengaluru-based online marketplace for pre-owned products GoZefo has raised around ₹21 crores ($3 million) in a fresh funding round led by New York-based stage agnostic investment firm FJ Labs, as reported by VCCircle.
Existing investors that participated in the round include Sequoia Capital and Helion Venture Partners. FJ Labs, co-founded by Fabrice Grinda, co-founder of an online classified firm OLX, has invested around ₹10 crores in the funding round.
Confirming the investment, Rohit Ramasubramanian, Co-Founder of GoZefo, said, “The OLX co-founder is a very relevant investor for us. It was more of a chance to get him onboard. It is strategic capital for us.” GoZefo was co-founded by Rohit Ramasubramanian, Karan Gupta, Himesh Joshi and Arjit Gupta in 2015.
The startup provides an online platform to buy and sell used furniture and other home appliances. GoZefo has also started renting out furniture to its customers, enabling them to rent at affordable prices.
The used products startup provides a wide array of products including television, mobiles, sofas, chairs, washing machines, and refrigerator, among many others. GoZefo is operational across Bengaluru, Mysore, Delhi, Gurugram, Noida, and Mumbai.
GoZefo last raised ₹60 crores from Sequoia Capital, Helion Venture Partners, and Beenext, in October 2017.
Other startups selling pre-owned products and renting furniture online include, Urban Ladder, Furlenco, Rentomojo, Quikr, Wooden Street, and Cashify, among many others. Last month, it was reported that Urban Ladder raised ₹36 crores in debt funding from Trifecta Capital.
In July 2018, Jaipur-based Wooden Street raised ₹6.8 crores in series A led by RVCF. Global investment firm FJ Labs was co-founded by Fabrice Grinda and Jose Marin in 2015. The firm invests in both B2B and B2C consumer-focused startups working fintech, e-commerce, travel, frontier tech, mobile, and SaaS domain. FJ Labs has invested in over 300 companies across more than 20 countries. Some of its prominent investments include Chinese e-commerce giant Alibaba, global cab-hailing giant Uber, and self-drive car rental Zoomcar, among many others.