Cashify, a leading Indian re-commerce marketplace, raised US$90 million in Series E funding to enhance its operations and expand its market presence in the growing e-waste management sector.

Target Information

Cashify is a prominent re-commerce marketplace in India, specializing in the trade-in and buyback of electronic gadgets. Founded in 2013, the company has distinguished itself by tackling the pressing challenges of e-waste management while promoting sustainability. By providing essential after-sale services, such as gadget repair and buyback, Cashify significantly extends the lifespan of devices that might otherwise contribute to e-waste accumulation. Cashify's mission champions the idea of making "pre-owned" products a standard, thereby transforming the consumer landscape in India.

As a leader in the re-commerce sector, Cashify has adapted its business model to center around smartphones, evolving into a brand that emphasizes mobile care services provided directly at users' doorsteps. This pivot reflects their commitment to delivering top-notch customer experiences while simultaneously addressing environmental concerns associated with gadget disposal.

Industry Overview

The re-commerce industry in India has witnessed substantial growth, largely fueled by the country's position as the second-largest smartphone market globally. With millions of devices being bought and sold each year, the demand for re