ControlZ, a startup that is bringing India's first renewed-smartphone category, has announced the acquisition of Overcart, India’s first marketplace for overstock, unboxed, reconditioned, and preowned merchandise. The acquisition is aligned with ControlZ’s growth strategy to set a new benchmark in the ReNewed smartphone market in India.
Founded in 2012 by Alex Souter and Saptarshi Nath, two colleagues from the consulting firm CEB, Overcart provides return management and liquidation services to major e-commerce companies, manufacturers, and retailers. Through this acquisition, ControlZ will be able to expand its business outreach through the extended supply chain and liquidation services. On the other hand, ControlZ, with this addition of Overcart in their portfolio, would be more geared up to enhance its offering for a win-win for their valued customers.
Commenting on the same, Yug Bhatia, Founder & CEO, ControlZ says, " We are a smartphone renew specialist, long-term expansion of this business would require strategists support in terms of supply chain and liquidation of inventory. This acquisition will help us to leverage technology capabilities that Overcart has built around to address the industry's challenges. "
Pioneer in the refurbished segment, Overcart has built a whole tech stack to handle all of these processes and has served thousands of happy customers in the market. The company will operate as a stand-alone company in the highly fragmented B2B pre-owned device market. Overcart's technology and platform, combined with ControlZ's hardware and quality expertise, is a winning combination for organizing the market and filling in the gaps in the pre-owned smartphone industry.
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