Overcart, an Indian provider of returns management and liquidation services to e-commerce companies, manufacturers, and retailers, raised $3m in Series A funding.
Backers included Omidyar Network, JSW Ventures, Sattva Capital & Keshav Sanghi-led Venture Works. In conjunction with the funding, Badri Pillapakkam from Omidyar Network and Gaurav Sachdeva from JSW Ventures will join the Board of Directors, while Samir Shah from Sattva Capital will become a board observer.
The company will be using the capital to further expand its operational efficiency and reach.
Led by Alexander Souter and Saptarshi Nath, Overcart operates Overcart.com – a marketplace for unboxed, refurbished, preowned, and excess stock across all electronic categories. The company, already present across Delhi NCR, Bangalore, recently expanded into Mumbai and added consumer electronics to its product portfolio.
It also launched its own warranty brand, Overtrust that provides walk-in product repair services in 55 cities across India.
Overcart had previously raised funds from K Ganesh’s Growthstory, The Phoenix Fund, Snow Leopard Ventures, and GSF Superangels among others.
co-founder & Managing Director.
FinSMEs
11/07/2016