India-focused refurbished electronics company ReFit Global has raised $1 million from a UAE-based family office as it looks to grow its business across India and enter new markets in the Gulf and Africa.
Founded in 2018 by Saket Saurav and Avneet Singh, ReFit Global is building an integrated business around refurbished electronics, covering refurbishment, distribution, retail and consumer sales.
The fresh funding will help the company strengthen its pan-India operations and support its plans to expand internationally.
ReFit Builds a Large Distribution Network
ReFit has built a strong distribution network across India, covering major cities as well as smaller markets.
The company currently works with more than 75 distributors, 2,000 wholesalers and 50,000 retail outlets across metro, Tier I, Tier II and Tier III cities.
It also operates 12 ReFit Xpress outlets alongside its B2B distribution business.
The company sells through both online and offline channels and also works with major brands and marketplaces. Its sourcing and sales relationships include platforms such as Flipkart and Amazon.
Focus on High-Quality Refurbishment
ReFit aims to make refurbished electronics more reliable by combining technology, repair expertise, quality checks and distribution.
The company reports a 92% refurbishment yield and offers repair capabilities up to L4, including chip-level repairs.
Its refurbishment process includes device diagnostics, automated quality checks, product grading, post-quality-control checks and inventory management.
This allows ReFit to handle devices at different stages while maintaining quality before they reach customers.
From Shark Tank to a Wider Market
ReFit Global was also featured on Shark Tank India Season 3, which helped increase awareness of the brand among consumers.
Saket Saurav said the latest funding is an important milestone for the company and shows the strength of the ecosystem ReFit has been building.
With the new capital, ReFit wants to take its refurbished electronics model beyond India and explore opportunities across the Gulf and African markets.
The round was advised by Bestvantage Investments.
Key Numbers
- $1 million - fresh funding raised
- 50,000 - retail outlets in ReFit’s distribution network
- 92% - reported refurbishment yield
With its combination of refurbishment technology, a large distribution network and omnichannel sales, ReFit Global is now looking to make refurbished electronics more accessible while building a larger presence in India and international markets.
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