ReFit Global has successfully secured INR 2 Crore funding at INR 200 Crore valuation from leading entrepreneurs and investors during their appearance on Shark Tank India Season 3. The investment round was spearheaded by Anupam Mittal, Founder-CEO of Shaadi.com – People Group; Vineeta Singh, Co-Founder-CEO of SUGAR Cosmetics; Amit Jain, Co-Founder-CEO of CarDekho Group and InsuranceDekho. This strategic investment marks a significant leap forward in ReFit Global's expansion journey.
The acquired funds will be used to scale operations, broaden market outreach, and fortify the company's technological infrastructure. Additionally, ReFit Global aims to enhance its web presence and overall customer experience, reinforcing its position as a leader in the refurbished marketplace.
One of the largest liquidation partners of major online platforms and collaborator with major e-commerce platforms and smartphone brands, the bootstrapped company achieved 100x YoY growth, securing ₹200 crores in FY 2022-2023.
Speaking about the fundraising Saket Saurav, Founder & CEO, ReFit Global stated, “We're truly excited to be sharing such a prestigious entrepreneurial platform with seasoned business leaders and visionaries. Recognizing the unique strengths each shark brings, our efforts has always been on expertise rather than just financial valuation. Our primary focus was to create a dynamic alliance with a diverse group of accomplished sharks, each contributing their distinctive insights and expertise. With this opportunity, we are aiming to bring in a clearer vision and market positioning for ReFit”.
Avneet Singh, Founder & COO, of ReFit Global stated “We are pleased to have received funding from Shark Tank India, which validates our commitment to transforming the refurbished smartphone industry through innovation and research. The investment will be deployed to drive further advancements and introduce a diverse range of refreshed products to the market.
Beyond being a successful startup with a network of over 50,000 retailers across 100 odd cities, ReFit Global distinguishes itself as an environmental steward within the re-commerce industry. The company's commitment to sustainability and reducing e-waste positions it as an eco-conscious player. Apart from financial success, ReFit Global actively contributes to positive environmental impact through excellent service, diverse sourcing methods, and a solid warranty promise. With these strengths, the company is driven to achieve its target of becoming a ₹1,000 crore profitable enterprise within the next 5 years.
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