Flipkart acquires refurbished electronics marketplace Yaantra
Flipkart Group has acquired Yaantra for an undisclosed sum. This acquisition will help Flipkart in strengthening its existing refurbishment business.
“Through the acquisition of Yaantra, we are enhancing our capabilities in a domain that is critical for the growth of the digital economy in India, as well as developing a comprehensive service ecosystem to support its expansion,” said Ravi Iyer, Senior Vice President and Head, Corporate Development, Flipkart.
Yaantra was founded back in 2013. It is an electronics recommerce company that purchases used electronics products and sells refurbished items with 12 Months of Yaantra Warranty. The company also offers repair services. The company also provides
Yaantra team with help Flipkart in building capabilities in recommence segment and accelerate its recommerce scale-up plans.
“We believe this association will prove to be a game-changer in making the Indian refurbished market a success and creating an even better experience for our consumers,” said Jha, Co-Founder, and CEO, Yaantra.
Pandemic and chip shortage has boosted the refurbished market in the country in recent months. However, this market is still unorganized and fragmented. There are a few key players including Cashify, Amazon, Budli, and Xtracover. We recently had a conversation with Soumitra Gupta, CEO of XtraCover where we tried to uncover a few things about the Refurbished market.