Recommerce platform Cashify, located in India, has raised a US $90 million Series E round in which it was joined by NewQuest Capital Partners, Prosus, and Paramark Ventures.
Bessemer, Blume Ventures, and Olympus Capital are some of the current investors in the Indian firm that took part in this round.
The additional funding will be utilized to strengthen Cashify’s workforce, marketing initiatives, technological foundation, and market penetration.
Mandeep Manocha, Siddhant Dhingra, Nakul Kumar, and Amit Sethi founded Cashify in 2013 to offer after-sale services including repairs and buybacks to increase the lifespan of electronics. The business wants to normalize the buying of used electronics, concentrating especially on cellphones, the second-largest market in the world. The corporation not only offers cellphones but also laptops, desktops, tablets, and gaming consoles.
A series D financing headed by Asia Environmental Partners saw the company raise $15 million in March 2021. Its valuation increased by 2.5 times with the series E round.
