What if a second-hand washing machine or refrigerator could look and work as good as new — with a warranty, doorstep delivery, and at half the price of a showroom product? That’s the question two siblings from Gurugram, Sachit and Ashlin Bansal, set out to answer when they launched Costify, a home-grown startup that’s redefining India’s refurbished appliance market.
What began as a small experiment from their home has today scaled into a ₹25 crore revenue business serving over 800 clients, proving that India’s middle-class appetite for affordable, reliable appliances is far bigger than most people realize. The idea is simple yet powerful: combine technology-driven refurbishing with after-sales trust to solve two pressing problems — the rising cost of household appliances and the mountain of electronic waste India produces each year.
Globally, refurbished electronics is already a multi-billion-dollar industry, with categories like smartphones and cars gaining consumer trust. But in India, the white goods market — refrigerators, washing machines, and air conditioners — has remained largely untouched by organized players. Consumers either risk buying unreliable second-hand products without warranty or stretch budgets for brand-new purchases. Costify bridges this gap with an AI-driven refurbishing process, rigorous quality checks, and a customer-first warranty model.
In just a few years, the startup has built a loyal base of households, rental property managers, and young professionals who see refurbished appliances as a smart, sustainable choice. More importantly, it has created an ecosystem of trained technicians and green business practices that support India’s circular economy goals.
As Sachit and Ashlin put it, “Costify isn’t just about cheaper appliances. It’s about making trustworthy, sustainable and affordable living accessible to millions of Indian families.”
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Founders’ Story: Sachit and Ashlin’s Journey from Home to High-Growth Startup
Behind Costify’s success are siblings Sachit and Ashlin Bansal, who combined entrepreneurial grit with a sharp eye for market gaps. Their journey began in Gurugram, when Sachit, a finance professional with exposure to corporate strategy, noticed how households struggled with the rising costs of essential appliances. At the same time, Ashlin, with a background in design and customer experience, observed that second-hand appliances in local markets often lacked quality assurance and after-sales support.
The duo identified a simple but powerful opportunity — to organize India’s unstructured refurbished appliance sector. They envisioned a platform where customers could purchase pre-owned refrigerators, washing machines, and other white goods with the same confidence as buying new ones.
Starting from their own home, Sachit and Ashlin began refurbishing appliances with the help of skilled local technicians. What set them apart was their insistence on standardized quality checks, technology-led refurbishing, and transparent warranties. Their early customers, mostly friends and neighbors, quickly spread the word, validating that the demand was real and scalable.
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With steady reinvestment of earnings and a clear focus on customer trust, Costify grew from a home experiment into a structured business model. The founders’ complementary skill sets — Sachit handling finance and strategy, Ashlin focusing on operations and customer relations — proved crucial in scaling operations to a ₹25 crore revenue milestone.
Their story reflects the spirit of India’s new-age entrepreneurs: solving everyday problems with innovation, sustainability, and trust at the core.
The Problem: Rising Appliance Costs and Unorganized Refurbished Market
In India’s fast-growing urban centers, household appliances like refrigerators, washing machines, and air conditioners have become essential rather than luxury items. Yet, the soaring cost of new appliances continues to burden middle-class families and small businesses. A refrigerator that once cost ₹15,000 can now exceed ₹30,000, making replacements a financial strain for many households.
While affordability is a pressing concern, the alternative — buying second-hand appliances — has historically been riddled with challenges. The unorganized refurbished appliance market is dominated by small local vendors, many of whom lack proper quality control processes. Buyers often face unreliable products, hidden defects, and the absence of warranties or after-sales service. This leads to low consumer trust and discourages people from considering refurbished options.
On the other side, millions of old but repairable appliances end up being discarded prematurely, adding to India’s mounting e-waste crisis. According to industry estimates, India generates more than 3 million tonnes of e-waste annually, and large household appliances form a significant part of this waste stream. This not only harms the environment but also represents a missed opportunity for extending the life cycle of durable goods.
The gap is clear: consumers need affordable, reliable, and warranty-backed refurbished appliances, while the environment needs sustainable solutions to curb e-waste. This dual challenge of affordability and sustainability forms the very problem that Costify set out to solve — bridging trust with technology and process-driven refurbishing.
The Solution: Costify’s Structured Refurbishment Model
Costify was founded to bring structure, trust, and technology into India’s fragmented refurbished appliance market. Instead of following the unorganized “repair and resell” approach common in local shops, the startup developed a process-driven refurbishment model that ensures quality, transparency, and customer satisfaction.
The journey begins with sourcing. Costify acquires company-second, open-box, and cosmetically damaged appliances directly from manufacturers, retailers, and distributors. These products — refrigerators, washing machines, air conditioners, and more — are then transported to the company’s Delhi-based facility.
At the warehouse, every unit undergoes a multi-stage refurbishment process powered by trained technicians and AI-driven diagnostics. Unlike conventional “jugaad” fixes, the process emphasizes precision. Appliances are dismantled, tested for defects, repaired with genuine parts, and reassembled to meet performance standards comparable to new products. Each product is triple-tested for efficiency, durability, and safety before being listed for sale.
To build trust, Costify provides clear product disclosures, including photographs of minor cosmetic marks, along with warranties ranging from six to twelve months. This transparency helps customers make informed choices without hidden risks. Additionally, the company offers same-day delivery across Delhi-NCR, after-sales support, and lifetime customer service — creating a customer experience that mirrors buying new appliances.
By combining affordability with reliability, Costify’s model not only empowers households to own essential appliances at lower costs but also addresses the environmental challenge of e-waste, giving second life to thousands of machines that would otherwise end up in landfills.
Market Landscape & Data
India’s home appliance market has long been characterized by rapid growth, rising aspirations, and sharp affordability gaps. According to industry reports, the Indian consumer appliances market is projected to reach $25 billion by 2027, driven by urbanization, increasing disposable incomes, and higher demand for convenience-driven products such as refrigerators, washing machines, and air conditioners.
However, despite this growth, penetration remains uneven. Only 33% of Indian households own a refrigerator, and less than 15% own a washing machine, highlighting a massive untapped market. For many families, the upfront cost of brand-new appliances continues to be prohibitive, pushing them toward the second-hand, unorganized sector. This informal market, though widespread, often lacks reliability, warranties, and consumer protections — leaving buyers vulnerable to losses when products fail soon after purchase.
Globally, the refurbishment industry is valued at over $10 billion and has already transformed categories like smartphones, laptops, and automobiles. Platforms like Spinny, Cars24, and Cashify have shown how structured resale backed by technology and transparency can unlock consumer trust and adoption at scale. Yet, the white goods category — including refrigerators, washing machines, and air conditioners — has remained largely untapped and fragmented in India.
This market gap presents a significant opportunity for organized startups like Costify, which combine affordability, warranties, and tech-driven refurbishing. With sustainability also emerging as a global priority, refurbished appliances are increasingly being viewed as a practical solution to meet both consumer demand and environmental goals.
Growth & Achievements
Since its inception in 2022, Costify has achieved remarkable traction in India’s refurbished home appliance market, a segment that had long remained underserved. In just over one year, the startup has served more than 8,000 customers, with over 10,000 refurbished products sold across Delhi-NCR. Its customer base spans first-time homebuyers, bachelors, restaurants, and cloud kitchens — showcasing the wide appeal of affordable, warranty-backed appliances.
One of the company’s earliest achievements was its ability to build consumer trust in a highly fragmented market. By offering 6–12 months warranties, same-day delivery, and after-sales support, Costify differentiated itself from unorganized local sellers. Customers who previously hesitated to purchase refurbished appliances found confidence in a model that blended transparency, reliability, and affordability. This trust translated into strong organic growth, with much of Costify’s traction coming from word-of-mouth referrals and online discovery.
The startup also succeeded in establishing a 4.5-star Google rating with over 300 verified reviews, reinforcing its credibility. Additionally, Costify introduced a tech-driven refurbishment process that includes AI-powered diagnostics and quality checks, ensuring consistent product performance. This approach allowed the company to scale while maintaining quality — a key factor behind its growing repeat customer base.
Beyond customer success, Costify has also made a mark on the employment landscape. By hiring ITI freshers instead of relying on veteran technicians entrenched in “jugaad” practices, the startup created opportunities for young talent and instilled a culture of precision and innovation.
Financially bootstrapped since inception, Costify has managed to scale sustainably without external funding, a rare feat in India’s capital-intensive startup ecosystem. With its scalable e-commerce platform now ready for pan-India expansion, the startup is positioning itself as a frontrunner in the organized refurbished appliances market.
Impact on E-Waste & Sustainability
India is the third-largest generator of e-waste globally, and large household appliances such as refrigerators, washing machines, and air conditioners are among the biggest contributors. These bulky items often end up in landfills, releasing toxic chemicals and metals into the environment. The lack of structured refurbishment channels has only worsened the problem, with many discarded appliances either scrapped for parts or abandoned entirely.
Costify’s model directly addresses this challenge. By refurbishing and reintroducing appliances into the consumer market, the startup helps extend product lifecycles while reducing the burden on landfills. According to the founders, refurbishing one million appliances prevents nearly 40,000 tonnes of e-waste, a figure that underscores the potential scale of impact.
Each refurbished unit sold by Costify reduces the need for fresh manufacturing, which in turn cuts down on energy consumption, raw material mining, and carbon emissions. This creates a double impact — minimizing waste and lowering the overall environmental footprint of household appliances.
Beyond environmental benefits, Costify also promotes the concept of circular economy in India. Instead of a linear “buy-use-dispose” model, refurbished appliances circulate back into households, creating a sustainable loop. For customers, this translates into affordable access to essential appliances without compromising quality or performance.
By integrating sustainability into its core business, Costify is not only building trust among consumers but also aligning with India’s broader push toward green business models. This eco-conscious approach strengthens its position as both a consumer-first and planet-friendly startup.
Employment & Training
While Costify is building a scalable business in refurbished appliances, its impact extends beyond customers and sustainability to job creation and skill development. From the outset, co-founders Sachit and Ashlin Bansal realized that India’s refurbishment market was plagued by “jugaad” repairs—quick fixes with no long-term reliability. To break this cycle, they chose an unconventional path: instead of hiring veteran technicians conditioned to shortcuts, they recruited fresh graduates from ITIs (Industrial Training Institutes).
These young professionals were trained in-house through a structured process powered by AI-driven diagnostics. Every repair is logged, analyzed, and refined, enabling trainees to upgrade their technical expertise within weeks. This not only ensures consistency in product quality but also equips employees with cutting-edge skills in appliance refurbishment.
By cultivating a culture of precision over patchwork, Costify has positioned itself as an employer that values curiosity, innovation, and process-driven excellence. For many first-time workers, this model provides not just a job but a career pathway in the growing circular economy sector.
The startup’s approach also contributes to tackling youth unemployment in India. With every refurbished unit sold, Costify’s technicians gain real-world experience while building credibility in a largely unorganized industry. Over time, this has helped the company create employment opportunities for dozens of young professionals and foster a workforce aligned with sustainability goals.
By combining business growth with human capital development, Costify has established itself as a training ground for the next generation of skilled technicians in India’s refurbished appliance industry.
Customer Case Studies
For Costify, customer trust is the real benchmark of success. Since inception, the refurbished appliance startup has served thousands of households across Delhi-NCR, with stories that reflect the value, reliability, and affordability of its model.
One such case is that of Anjali Mehta, a first-time homebuyer in Gurugram. Struggling with a limited budget, she was hesitant to invest in a brand-new refrigerator and washing machine. Through Costify, she purchased refurbished appliances with a one-year warranty at nearly 40% lower cost than retail prices. A year later, both machines continue to perform seamlessly, validating her decision to trust a structured refurbishment model over the unorganized second-hand market.
Another example is Ravi Kumar, owner of a cloud kitchen in Delhi. For his operations, he needed multiple commercial refrigerators but couldn’t afford new units due to high capital costs. Costify delivered refurbished commercial fridges that passed triple testing, supported by after-sales service and same-day delivery. This enabled Ravi to expand his food business quickly while reducing upfront investment.
Students and bachelors also form a key customer base. Rahul Singh, a postgraduate student, purchased a refurbished AC and mixer-grinder from Costify. He highlights the transparent pricing and clear disclosure of cosmetic defects as factors that built his confidence.
These stories underline how Costify has transformed appliance purchases into a trust-driven experience, helping families, entrepreneurs, and individuals access modern conveniences at a fraction of the cost, with warranties and long-term support.
Challenges & Competition
While Costify has made rapid strides in the refurbished appliance market, the journey has not been without hurdles. One of the biggest challenges lies in changing customer perception. Unlike refurbished smartphones or cars—where platforms like Cashify, Spinny, and Cars24 have created structured models—the home appliance resale segment remains largely unorganized and trust-deficient. Convincing buyers that refurbished refrigerators, washing machines, or ACs can be as reliable as new products continues to require awareness campaigns and consistent service delivery.
Operationally, ensuring consistent quality standards across all refurbished units poses another challenge. Appliances often come with varying levels of wear and damage, demanding detailed inspections, genuine spare parts, and time-intensive repair processes. Unlike quick fixes in the unorganized sector, Costify’s model emphasizes precision, which can increase costs and timelines. Balancing affordability with quality remains a fine line to walk.
In terms of competition, Costify faces indirect rivalry from major e-commerce players like Amazon, Flipkart, and Reliance Digital, which often run deep discounts on new appliances. Within the refurbished space, smaller local repair shops and classified platforms like OLX and Quikr still dominate due to low prices, albeit with no warranty or service assurance. Costify’s real differentiation lies in bridging this gap—offering tech-driven refurbishment, transparent processes, and warranties that combine the affordability of second-hand with the trust of organized retail.
As the company scales, navigating this balance between consumer trust, operational efficiency, and market competition will remain central to its growth strategy.
Expert Opinions
Industry experts believe Costify’s model is uniquely positioned to disrupt both the refurbished electronics and sustainability markets. According to Dr. Ramesh Iyer, Professor of Sustainable Business at IIM Bangalore, “India’s electronics consumption is among the fastest-growing in the world. Without structured refurbishing models, e-waste will become a massive ecological and economic burden. Platforms like Costify are setting the benchmark for circular economy practices.”
Anita Verma, a technology analyst at Gartner, points out that consumer perception around refurbished products is shifting. “Earlier, refurbished meant second-hand and unreliable. Today, brands like Costify are rebuilding trust by offering certified quality checks, warranties, and customer support. This is changing how middle-class families and businesses look at affordability and technology upgrades.”
On the financial side, Rajesh Bansal, an angel investor in cleantech startups, emphasizes the scalability of such ventures. “The market potential is huge. With rising device penetration and increasing awareness about sustainability, Costify can easily expand beyond Tier 1 cities and tap into Tier 2 and Tier 3 demand.”
Collectively, these expert voices highlight that Costify is not just another refurbished marketplace—it’s shaping the narrative for responsible consumption, making refurbished electronics both aspirational and sustainable.
Future Roadmap
Looking ahead, Costify is gearing up for an ambitious expansion phase that aligns with both consumer demand and sustainability goals. The company aims to strengthen its distribution network across Tier 2 and Tier 3 cities, where affordable electronics can bridge the digital divide. By building localized hubs for refurbishing and logistics, Costify plans to ensure quicker turnaround times and deeper market penetration.
On the product side, the startup is working toward expanding beyond smartphones and laptops into smart home devices, tablets, and wearables—categories that are witnessing rapid adoption in India. Parallelly, the brand intends to introduce subscription-based upgrade models that allow customers to periodically exchange devices, ensuring both affordability and reduced waste.
Technology integration will also play a central role in Costify’s roadmap. AI-powered quality checks, blockchain-based product traceability, and predictive analytics for consumer demand are being explored to enhance efficiency and trust.
Finally, the company is committed to amplifying its sustainability impact by collaborating with environmental organizations and government bodies to formalize e-waste collection and recycling at scale. With these initiatives, Costify envisions becoming India’s most trusted and eco-conscious refurbished electronics brand over the next five years.
Conclusion
Costify’s journey is more than just a startup story—it’s a reflection of how innovation, sustainability, and affordability can converge to create meaningful impact. From its humble beginnings to scaling as a trusted refurbished electronics brand, Costify has not only disrupted the market but also reshaped consumer perceptions around pre-owned devices. Its growth demonstrates that customers are increasingly willing to embrace value-driven alternatives when trust, quality, and transparency are at the forefront.
Looking to the future, Costify envisions itself as a global leader in circular electronics, extending its reach beyond India while maintaining its strong sustainability ethos. The company aims to inspire a cultural shift where refurbished products are not seen as “second-hand” but as smart, responsible choices. By combining advanced technology, robust customer service, and a green mission, Costify is set to redefine how people buy and upgrade their gadgets.
In the long run, Costify aspires to be more than a marketplace—it wants to be a movement that empowers consumers, protects the planet, and creates opportunities for communities. With a clear roadmap and strong vision, Costify is positioned to lead India toward a more sustainable and digitally inclusive future.
Disclaimer
The opinions expressed in this article are those of the author alone and do not necessarily reflect the views of Entrepreneur Villa, its creators or staff. Entrepreneur Villa is not responsible for the accuracy or reliability of any information presented in this content.
Frequently Asked Questions:
Answer: Costify is a refurbished electronics startup that provides high-quality, affordable, and sustainable devices. It focuses on reducing e-waste while making gadgets more accessible to the masses.
Answer: Costify was founded by Anil Kumar, an engineer-turned-entrepreneur from Gurugram, with the vision to build a sustainable electronics ecosystem in India.
Answer: Costify sells refurbished smartphones, laptops, tablets, and accessories that go through a rigorous quality check process before being made available to customers.
Answer: Yes. All products undergo multi-level testing, quality certification, and come with a warranty. Costify ensures transparency, making refurbished gadgets as reliable as new ones.
Answer: By refurbishing and reusing electronics, Costify prevents devices from ending up in landfills, extending their life cycle and promoting environmental sustainability.
Answer: Yes, Costify provides a warranty on all its refurbished gadgets, ensuring peace of mind for customers.
Answer: Unlike unorganized sellers, Costify follows a structured model with certified testing, quality grading, customer warranties, and after-sales support.
Answer: Customers can purchase Costify products through its official website, leading e-commerce platforms, and offline retail partnerships.
Answer: Yes. Costify actively provides employment and training, especially for youth and technicians in the electronics repair and refurbishment industry.
Answer: Costify aims to become a global leader in circular electronics, making refurbished devices mainstream while promoting affordability, accessibility, and sustainability.
