Flipkart Group has purchased electronics reverse commerce company Yaantra to develop its reverse commerce business and improve after-sale options for its smartphone consumers.

Flipkart's refurbishment business in the smartphone category will be bolstered by Yaantra, a brand that repairs and sells refurbished consumer tech products such as smartphones and laptops, according to the company.

Yaantra will provide an ecosystem that looks after the entire lifecycle of smartphones, according to Flipkart. The deal's financial specifics were kept under wraps. Following the purchase, Yaantra's team will report to Prakash Sikaria, Senior Vice President and Head of Flipkart's Growth Charter, according to the company.

“India is one of the fastest-growing markets for electronic goods, with smartphones being one of the most in-demand. There is a large set of consumers who aspire to own branded devices, but prices are sometimes prohibitive. This is where Yaantra fits in perfectly. Their recommerce value chain and refurbishment capability will allow Flipkart to create a very meaningful recommerce offering," adds Sikaria.

Yaantra, which was formed in 2013 by Jayant Jha, Ankit Saraf, and Anmol Gupta, will give Flipkart with more affordable refurbished smartphones, as well as value and convenience for end users, according to the company.

“At Yaantra, we have been able to successfully drive the smartphone recommerce to the next level with our deep understanding of the sector and technology. At this juncture, we are delighted to join forces with the Flipkart Group as we share a common objective of making technology affordable and available for all," says Jayant Jha, Co-Founder and Chief Executive Officer at Yaantra.

Flipkart is relying on India's recommerce business, which is growing at a quick pace, according to the company. Because the sector is mostly unorganized and fragmented, recommerce consumers have trust and convenience difficulties, according to the Walmart-owned company. As a result of Yaantra's expertise in product assessment and refurbishing, Flipkart's refurbishment skills will be aided, according to the company.

Flipkart said the strategic acquisition was made through FK Group Entity F1 Info Solutions & Services Pvt Ltd, which is in the business of providing lifecycle management for various categories in the business-to-business segment, including mobility, consumer electronics, IT (information technology) and IT Peripherals, audio-video enterprise solutions.

“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”, says Ravi Iyer, Senior Vice President and Head - Corporate Development, Flipkart.