Indian B2C marketplace Cashify secures $90 million in funding

Oluwajuwonlo Afolabi -

Cashify, an India-based marketplace for re-commerce has secured $90 million in its Series E funding round led by NewQuest Capital and Prosus.

  • The fund will be used for building out its stack of technology, hiring more talents, marketing, and expanding its operations to new markets.
  • Cashify is an online marketplace for buying and selling used electronics including devices like smartphones and laptops.
  • The firm plans to increase its stores to 250 in 100 cities from 120 in 45 cities in the next 12 months, with a double in its revenue in the last 12 months, it expects to grow by 2x in the next year.
  • Bessemer, Blume Ventures, Olympus Capital, and Paramark Ventures invested in the round.