Electronic equipment marketplace for resale Cashify raised INR 52 crore in Series E from the e-commerce behemoth Amazon and venture capital firm Blume Ventures.
Users can sell their used and outdated electronics on Cashify’s online marketplace. The startup also works on exchange programmes with original equipment manufacturers (OEMs), including Xiaomi, OnePlus, and Samsung. Recently, Cashify CEO Manocha told Inc42 that the startup was processing monthly gross merchandise value (GMV) in excess of INR 100 Cr and intended to quadruple it in the following six months. Redseer estimates that by the fiscal year 2025–2026(FY26), the used phone industry in India will have grown to $10 billion.
The report projects that by FY26, the global market for refurbished electronics would increase at a compound annual growth rate (CAGR) of 16%, reaching $11 billion.
