Indian ecommerce marketplace Cashify acquires retail platform UniShop

India-based ecommerce marketplace Cashify announced it has acquired UniShop, an omnichannel retail platform, for an undisclosed sum.

Photo credit: Cashify

Under the deal, UniShop will be rebranded as PhoneShop. The acquisition will help Cashify diversify its ecommerce offerings by providing mobile retailers with their own online presence.

With the acquisition, UniShop founder Hitashi Garg will move to the Cashify team, along with the rest of the UniShop squad.

UniShop provides small merchants with solutions for billing, stock management, online store development, custom domain creation, marketing, payment options, and personalized promotions, among others.

Meanwhile, Cashify is an ecommerce marketplace where users can sell old or used electronic gadgets – primarily smartphones as well as laptops, tablets, desktops, and gaming consoles. The company is also an exclusive buyback partner for brands like Apple, Xiaomi, OnePlus, Vivo, Oppo, HP, Samsung, and Dell in India.

“With UniShop’s tech team and our acumen, we are sure that this product will bring direct-to-customer internet channels to neighborhood shops and services to not just survive in this pandemic but see it as a long-term business growth opportunity,” said Nakul Kumar, co-founder of Cashify.

See also: Following the GoTo merger, should Grab buy an ecommerce marketplace?

In March, Cashify raised US$15 million from Olympus Capital Asia to increase the company’s footprint in India.