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Quikr Acquires Zefo For INR 200 Cr

Zefo will help Quikr scale up its goods and services vertical. Zefo offers product refurbishment and repairs for the used goods sold on its platform.Zefo has raised $19 Mn in funding till date and counts Sequoia, Helion and BEENEXT as investors.Online classifieds marketplace Quikr has acquired Bengaluru-based used goods marketplace Zefo, for INR 200 Cr ($28.51 Mn).

With Zefo, Quikr is looking to further scale its pre-owned goods and services vertical. Pranay Chulet, founder and CEO of Quikr, said that with Quikr and Zefo as a combined entity, the company will be able to offer a broader selection of products at even more competitive prices.

Rohit Ramasubramanian, cofounder and CEO, Zefo said, “With this transaction, the capabilities we have built and the offerings we have honed can now be offered to Quikr’s large customer base.”

Zefo was founded by Arjit Gupta, Himesh Joshi, Karan Gupta, and Ramasubramanian in 2015. This startup manages its end-to-end operations, including product refurbishment and repairs of its sold products, in order to ensure a higher degree of standardisation.

Prior to this round, Zefo has raised $19 Mn from investors such as Sequoia India, Helion Venture Partners and Singapore-headquartered VC fund BEENEXT. The company has expanded to four cities and provides over 10K unique products across four major categories.

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