ReFit Global Raises $1 Million Funding From UAE Family Office
For ReFit, the new capital will support the expansion of its physical retail presence, refurbishment capabilities and technology infrastructure.
Noida-based refurbished electronics company ReFit Global has raised $1 million from a UAE-based family office as it looks to expand its retail footprint, strengthen refurbishment capabilities and invest in technology infrastructure in India, while preparing to enter markets across the Gulf and Africa.
The fresh capital will be used to add more retail outlets, strengthen ReFit’s refurbishment infrastructure and develop an integrated omnichannel platform connecting its online, offline and B2B operations. The UAE-based family office will also facilitate access to potential partners, customers and business opportunities in the Gulf and African markets. The round was advised by Bestvantage Investments.
Founded by Saket Saurav and Avneet Singh, ReFit operates across the refurbished electronics value chain, including refurbishment, distribution, retail and consumer channels. The company is building a technology-enabled ecosystem that brings these operations together across its B2B and direct-to-consumer businesses.
ReFit has built a pan-India distribution network comprising more than 75 distributors, 2,000 wholesalers and 50,000 retail outlets across metropolitan and Tier 1, Tier 2 and Tier 3 markets. It also operates 12 ReFit Xpress outlets alongside its B2B distribution network.
The company operates through online marketplaces, offline retail and brand partnerships, with sourcing and sales relationships involving platforms including Flipkart and Amazon. Its physical retail network is intended to provide another channel for customers to access refurbished electronics.
On the refurbishment side, ReFit reports a 92% refurbishment yield and repair capabilities extending up to Level 4, including chip-level repairs. Its technology processes cover device diagnostics, automated quality checks, device grading, post-quality-control processes and inventory management.
ReFit was previously featured on Shark Tank India Season 3, where it secured ₹2 crore at a reported ₹200 crore valuation from Anupam Mittal, Vineeta Singh and Amit Jain. The company had said at the time that the funding would be used to scale operations, broaden its market reach and strengthen its technology infrastructure.
The expansion gives ReFit an opportunity to build on its existing distribution network in India while extending its refurbished-electronics business into international markets. Its next phase will focus on scaling retail and refurbishment capacity alongside the technology infrastructure required to manage its expanding operations.