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Deepti Sri · · 1 min readIndian secondhand-phone marketplace Cashify lands $15m in funding
“Cashify, a re-commerce marketplace that sells and buys used smartphones and other electronic gadgets, has raised $15 million from Olympus Capital Asia,” Livemint reported.
Details:
- The deal will go through Olympus Capital Asia’s clean energy and sustainability platform Asia Environmental Partners (AEP)
- Funds raised from the financing round will be used to grow Cashify’s footprint in India through offline retail expansion, hiring, and expanding its SaaS (software-as-a-service) business.
Context:
- Currently, Cashify sells 125,000 devices a month and is looking to achieve profitability in the next 6 months.
- The company is a buyback partner for brands such as Apple, Xiaomi, OnePlus, Vivo, and Oppo, among others.
Editing by Collin Furtado and September Grace Mahino
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