Cashify
 | |
Formerly | ReGlobe |
|---|---|
| Private | |
| ISIN | 🆔 |
| Industry | Re-commerce |
| Founded 📆 | 2013 |
| Founder 👔 | Amit Sethi, Mandeep Manocha & Nakul Kumar |
| Headquarters 🏙️ | , Gurgaon, Haryana , India |
Area served 🗺️ | |
| Services | Buyback |
| Members | |
Number of employees | |
| 🌐 Website | www.cashify.in |
| 📇 Address | |
| 📞 telephone | |
Cashify is an Indian online re-commerce platform founded by Mandeep Manocha.[1], Nakul Kumar, and Amit Sethi
in 2013. It is a registered trademark of Manak Waste Management Pvt. Ltd. It has its headquarters in Gurgaon, Haryana.
Cashify provides an online resale marketplace for used smartphones, laptops, TV sets, gaming consoles etc.[2]
History[edit]
Formerly known as ReGlobe, the company initially dealt with e-waste management and gradually moved into the re-commerce sphere[3].
Backed by venture capitalists like the US based Bessemer Venture Partners, India’s Blume Ventures and Mauritius’ M&S Partners, Cashify raised $1 million in 2015.
In 2016, Cashify acqui-hired Bangalore-based tech startup[4], MobiBing, that was working similarly in the gadget resale segment since its inception in 2015.[5]
Fundings[edit]
Cashify secured its Series A funding[6] in July, 2017 from Shunwei Capital[7] as well as its existing investment partners, Bessemer Venture Partners, Blume Ventures & M&S Partners.
In February 2018, Cashify raised a venture debt of close to $1 million[8] from Trifecta Capital[9][10][11].
Later in May 2018, Cashify got its Series C funding of $12 million[12] that was led by CDH Investments and MorningSide Group. The Chinese re-commerce firm AiHuiShou joined in as the strategic investor[13]. Other funds received included their existing funding partners Shunwei Capital, Bessemer Venture Partners and Trifecta Capital as the investors[14][15]
Partnerships[edit]
Back in 2013, when Cashify was still ReGlobe, it inked a partnership with e-commerce website Snapdeal[16], in order to facilitate the latter’s gadget buyback program.
It has also teamed up with smartphone brands like OnePlus[17][18], Xiaomi[19], Nokia, Apple[20] and Samsung[21] and acts as their official buyback partner.
Features[edit]
Cashify uses an AI-powered algorithm to evaluate the value of used gadgets. It has both app and web portals through which it caters to the customers.
References[edit]
- ↑ 27, Updated: Jul; 2017; Ist, 10 46 Am, CFE - Mandeep Manocha | The Economic Times Video, retrieved 2018-10-18
- ↑ Dwivedi, Vinay (2015-12-01). "Profit from 'junk' : Re-commerce firm ReGlobe buys electronic products you no longer have use for". The Economic Times. Retrieved 2018-10-18.
- ↑ Dwivedi, Vinay (2015-12-01). "Profit from 'junk' : Re-commerce firm ReGlobe buys electronic products you no longer have use for". The Economic Times. Retrieved 2018-10-18.
- ↑ "Blume Backed Recommerce Startup Cashify Aqui-Hires Bangalore Based MobiBing - Inc42 Media". Inc42 Media. 2016-07-19. Retrieved 2018-10-18.
- ↑ Bureau, BW Online. "Cashify India s leading Re commerce Company Acquihires Bangalore Based MobiBing". BW Disrupt. Retrieved 2018-10-18.
- ↑ "Re-commerce startup Cashify raises Series A round from Chinese VC, others". VCCircle. 2017-07-06. Retrieved 2018-10-18.
- ↑ Srinivasan, Supraja (2017-12-04). "Shunwei's slowly taking capital spot in Indian startup ecosystem". The Economic Times. Retrieved 2018-10-18.
- ↑ "Cashify Raises Close To A Million In Funding From Trifecta Capital - Inc42 | DailyHunt". DailyHunt. Retrieved 2018-10-18.
- ↑ "Cashify Raises Close To A Million In Funding From Trifecta Capital". Inc42 Media. 2018-02-12. Retrieved 2018-10-18.
- ↑ "Trifecta Capital gives ₹6 cr to Cashify". @businessline. Retrieved 2018-10-18.
- ↑ "Trifecta Capital loans Rs 6 crore of debt to Gurgaon-based Cashify". Moneycontrol. Retrieved 2018-10-18.
- ↑ "Cashify raises $12 million in Series C Funding from CDH Investments, Morningside, others - TechStory". TechStory. 2018-06-29. Retrieved 2018-10-18.
- ↑ Srinivasan, Supraja (2018-06-29). "Cashify gets $12 million in Series-C". The Economic Times. Retrieved 2018-10-18.
- ↑ "India's Cashify raises $12M for its second-hand smartphone business". TechCrunch. Retrieved 2018-10-18.
- ↑ www.ETtech.com. "Recommerce player Cashify raises $12M from CDH Investments & MorningSide Group, others - ETtech". ETtech.com. Retrieved 2018-10-18.
- ↑ "Snapdeal ties up with ReGlobe to enable exchange of old gadgets for instant cash". Techcircle. 2013-10-09. Retrieved 2018-10-18.
- ↑ "OnePlus introduces a buy back offer in partnership with Cashify; Star Wars Limited edition back as Lava Red runs out of stock- Technology News, Firstpost". Tech2. 2018-01-29. Retrieved 2018-10-18.
- ↑ www.ETTelecom.com. "OnePlus announces buyback program for its official e-store - ET Telecom". ETTelecom.com. Retrieved 2018-10-18.
- ↑ "Mi Exchange offer: Exchange your old phone and get new Redmi 5, Note 5 among others at cheap prices". The Financial Express. 2018-03-19. Retrieved 2018-10-18.
- ↑ "Apple Upgrade Programme: Cashify, ICICI Bank offering Rs 30,000 cashback on purchase of MacBook Air, Mac Mini, MacBook Pro and iMac from authorised Apple resellers | Digit.in". Digit. Retrieved 2018-10-18.
- ↑ "Samsung Summer Fest 2018: Top deals on smartphones, smartwatches and more". The Indian Express. 2018-05-23. Retrieved 2018-10-18.
External links[edit]
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