Online relocation solution provider EZMove has raised Rs. one crore funding from a clutch of investors across the US, Europe and India. The consortium consists of investors who are hedge fund managers, senior industrialists and angel investors in their personal capacity.
The Pune-based startup will use capital for strengthening its platform and to expand in North India.
EZMove was founded by Anand Agarwal and Vishwajeet Singh in August 2013 with an aim to provide a completely hassle free experience during relocation.
EZMove is the first company in India to venture into the highly unorganized movers and packers market, which is pegged at Rs 10,000 crore with as many as 40,000 to 50,000 small and big players in it.
Speaking about the investment, Anand Agarwal, Co-founder and CEO of EZMove, said, “Since its inception, the company has facilitated more than 1000 moves and the funding has come at the right time when we are looking to strengthen our platform and even expand in the North India market.”
Till now, the company has signed up more than 50 movers after a stringent screening process. The screening process includes a visit to the mover’s office by EZMove team, checking their documentation, inspecting their warehouse infrastructure, quality of packing at a customer’s site, behavior of the crew with the customers and references within the industry.
At present, most of the movers and packers lure customers with an extremely low quote and on-time delivery assurance but are unable to deliver on their promise, which leads to a nightmare while relocating. Consequently, the major chunk of customers have to settle for poor handling of their goods, bad quality of packaging, and even late delivery of goods in damaged condition. “Our company aims to eliminate such problems and assure the customers of quality and on time delivery,” adds Anand.