The funds will be used to scale-up Zamroo’s technology platform and branding
New Delhi, India Feb 6th, 2018
New Delhi based Zamroo, the leading online marketplace for selling used goods has raised seed funding from RDS Bawa, ex Group CFO of Network18.
ZAMROO platform is one of the most exhaustive platform in the digital classified space and few categories like Industrial Goods, Musical Instruments, etc are unique to Zamroo which are not available on other platforms in this large and fast-growing market for used goods.
They have established themselves as one of the leading player in short period of time, said Mr. Bawa. “What Rakesh and the team have developed over the last two years is hugely impressive, and I am excited to be working together to create a market leader in this space. Zamroo is a great example of founder-led, capital-efficient business model.”
With Mr. Bawa’s vast experience in business & finance including founding team member of leading eCommerce portal, is an ideal partner as we continue to scale our business, said Rakesh Kapoor, Founder & CEO of Zamroo. I’ve always believed that there is a critical difference between finding someone who is willing to invest and finding the right investor. Our partner is passionate about our category and provides honest insight and guidance to help us make our product the best it can be. As our company continues to improve the way people buy and sell locally, Mr. Bawa’s insight and experience will be invaluable.
While the terms of the transaction were not disclosed, the Delhi based company will use the proceeds towards boosting its technology platform, as well as focus on creating a more immersive consumer experience.
ZAMROO has close to 300,000 listings active on its platform and have 54,000 plus sellers registered across PAN India. It’s growing majorly by its word of mouth publicity. It’s available on web as well as its user friendly mobile apps are available on Google Playstore and Apple store. In the mobile dominated world, Zamroo has the potential to become Craigslist of India and it is giving a stiff competition to existing players with its unique user friendly interface & features.
KPMG-Google report on digital marketplace highlights, used goods market in India was at USD 19 billion (INR 115,000 crores) in FY-15 and revenues in the sector are growing at 29.5% CAGR. Platforms catering to multiple categories (horizontal marketplace) would continue to lead with about 30% market share. Click to view the report: https://goo.gl/V39KC3
Zamroo’s free app is the fastest growing mobile marketplace to buy and sell locally. Zamroo team is working to create the best experience for local buying and selling used goods online. Their motto is Easy Buy. Easy Sell.
ZAMROO was launched as they felt users were looking for better options as the current online marketplaces were hard to browse, charge expensive listing fees, don’t have the categories or information which users were looking for. They wanted to create a simple, secure environment where buyers and sellers can easily trade goods from the palm of their hand. Using the power of your mobile phone, Zamroo has made selling as simple as taking a selfie and buying as easy as commenting on one. And it’s absolutely FREE for everyone to use.
For more information, visit https://www.zamroo.com and download the Zamroo app for Android and iOS devices.