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ReFit Global Raises Funding At 200 Crore Valuation In Shark Tank Season 3

ReFit Global plans to utilise the investments to scale operations, broaden market outreach, and fortify the company's technological infrastructure.

ReFit Global Raises Funding At 200 Crore Valuation In Shark Tank Season 3
Founders of ReFit Global

Outlook Start-Up Desk

POSTED ON February 21, 2024 5:27 PM

Direct-to-Consumer (D2C) Refurbished platform ReFit Global raised Rs 2 Crore funding at Rs 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.  

The company will utilise the investments to expand its operations, it said in a press release. 

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, it further added. 
 
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 Rs 200 crores in FY 2022-2023. 
 
Speaking about the fundraising Saket Saurav, founder and CEO, ReFit Global stated, “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, and COO, of ReFit Global, stated “The investment will be deployed to drive further advancements and introduce a diverse range of refreshed products to the market.  

Operating as a Bootstrapped company, ReFit Global has achieved 100x y-o-y growth, securing 200 crores in revenue in FY 2022-2023. The start-up has over 50,000 nationwide retailers and distributors across 100+ cities, with major e-commerce players being the largest liquidation partners, it claims. 

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