Cashify net worth

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Online marketplace offering pre-used gadgets and accessories. Most viewed in You are being shown a subset of the data for this profile. Copy Url. Cashify company profile soonicorn. Last updated: March 10, Claim Profile Suggest Edits Request page removal.

Cashify net worth

Re-commerce marketplace Cashify continues to miss its target of turning profitable. This would be the second instance of the company missing its target of turning profitable. It had first targeted to post a profit by mid-FY22 and then by FY He added that the company may choose to invest in opportunities that come along and make a good case for investment. Cashify continues to struggle with increasing costs, particularly employee-related expenses, cost of buying used electronics and other expenses such as logistics , tech infrastructure and advertising costs. In FY23, for instance, its employee benefit expenses rose to Similarly, its cost of buying used electronics for resale rose to crore in FY23 from Last year, the company announced plans to expand to over cities in India and increase its store count to This is in contrast to the new smartphone sales data, which indicates prolonged downturn with slow recovery. Download the Financial Express App for the latest finance news. Must Read. IndiGo Co-founder Rakesh Gangwal sells 5. Pause slide. Business News business industry Cashify fails to turn profitable but investors upbeat on business model Cashify fails to turn profitable but investors upbeat on business model This would be the second instance of the company missing its target of turning profitable. Written by Ayanti Bera.

There have been a few reported instances where alleged thieves used the platform to sell robbed phones or electric devices. Silver Rate Today. Stock Market Stats Market Stats.

Sales of used mobile phones and other electronic gadgets like speakers, laptops, tablets, gaming consoles, and smartwatches formed Rest of the operating revenue came from ancillary services such as phone recycling, refurbishing, and repairing which surged The company currently has stores with plans to expand that number to by March. When it comes to expenses, the cost of material consumed accounted for This cost grew

Cashify board has approved the allotment of 15, preference shares for an issue price of Rs , Cashify lets customers sell and buy old electronic gadgets mostly mobile phones and laptops. Apart from buying directly from users, the company works with several offline and online channels and OEMs such as Xiaomi, OnePlus and Samsung for their exchange programs. According to its website, it has an offline presence with service locations and 40 offline stores. The company competes with Greendust and Yaantra among several others.

Cashify net worth

Paramark Ventures and existing backers including Bessemer Venture Partners, Blume Ventures and Olympus Capital also participated in the new round, which included some secondary transactions. IndigoEdge served as the financial advisor for this deal. Cashify operates an eponymous platform — both online and physical stores and kiosks — for users to sell and buy used smartphones, tablets, laptops and other gadgets. Additionally, Cashify also works with all top smartphone makers including Apple, Samsung, Xiaomi and Samsung to power their refurbishing programs. The startup repairs and refurbishes those devices, giving them new lives without which they may have likely ended up in the garbage bin, explained Mandeep Manocha, founder and chief executive of Cashify, in an interview with TechCrunch. A significant number of smartphones sold in the country — and beyond — get returned to the e-commerce or retail outlets. Many of these firms work with Cashify as well, said Manocha.

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Then, Cashify dispatches a representative who comes to the seller's house. He added that the company may choose to invest in opportunities that come along and make a good case for investment. Anant Vidur Puri , Nominee Director, is on the board of 5 companies. Cashify has employees as of Nov Karnataka set to welcome two new Vande Bharat Express trains — Check route, timings and more. Such launches of the latest gadgets that are blazing-fast and involve the most desirable of features always replace all the other previous models and come out imposingly strong! Top Losers. On a unit level, Cashify spent Rs 1. It is an iPhone 11! From congested city streets to sprawling rural corridors, the traditional model of chugging diesel engines and crowded buses is challenged by a wave of innovation. Load More. Selling a second-hand gadget is never easy in India. Cashify serves in the B2C space in the Retail market segments. The sector here is unorganized. The News Minute.

Cashify formerly known as ReGlobe is a recommerce company with headquarters in Gurgaon , India. It was founded in It operates as an online marketplace where users can sell their used electronic gadgets like mobile phones, tablets, smartwatches, laptops and video game consoles to professional buyers.

Sales of used mobile phones and other electronic gadgets like speakers, laptops, tablets, gaming consoles, and smartwatches formed Cashify gross revenue nears Rs Cr in FY22, losses spike 2. Cashify formerly known as ReGlobe is a recommerce company with headquarters in Gurgaon , India. Use "Next Round Investors" tool to find the potential investors for your next round of investment. There is 1 acquired company in the entire competition set. Start using Tracxn for free Sign up now. Schedule Demo. My Mobile. Legal Entity Name. Stock market quotes. Lok Sabha Elections Please introduce links to this page from related articles ; try the Find link tool for suggestions. Top Gainers. Cashify company profile soonicorn. Looking to raise funds?