The new funds will be used to strengthen the team, build technology infrastructure and enhance branding marketing efforts, the company said in a statement.
Existing investors Bessemer, Blume Ventures and Olympus Capital invested in this round, with the participation of new investor, Paramark Ventures.
“We look forward to expanding our presence and offering to our valued customers in India and achieving our broader goal of integrating the circular economy,” said Mandeep Manocha, Founder and CEO of
Apart from smartphone repurchases, Cashify has become a smartphone centered brand with comprehensive mobile care at the user’s doorstep.
Cashify has more than 40 lakh customers and is a buyback partner for brands like Apple, Xiaomi, OnePlus, Vivo, Oppo, HP, Samsung and Dell in India.
“While there is a strong opportunity in the re-commerce space, Cashify has a clear edge as a category leader with its focus on customer experience and its data- and tech-first approach,” said Amit Gupta, Partner and Head of India and Southeast. Asia, NewQuest.
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