Shark Tank Season 3: Refurbishing startup ReFit raises Rs 2 crore funding

ReFit Global, a direct-to-consumer (D2C) refurbished marketplace, has secured Rs 2 crore funding at Rs 200 crore valuation 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 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 Rs 200 crores in FY 2022-2023.

Speaking about the fundraising Saket Saurav, Founder & CEO, ReFit Global said that they aim to bring in a clearer vision and market positioning for ReFit.

Avneet Singh, Founder & COO, of ReFit Global said that investment will be deployed to drive further advancements.

“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,” Singh said.

ReFit Global, founded by Saket Saurav and Avneet Singh, being a bootstrapped company has achieved 100x YoY 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 partner.