Cashify raises $90 million in Series E funding round
E-commerce marketplace Cashify has raised $90 million in its Series E funding. The round was led by NewQuest Capital Partners and Prosus. Existing investors who participated include Bessemer, Blume Ventures, Olympus Capital and Paramark Ventures.
The latest investment will be utilised for hiring, building technology infrastructure, marketing and expanding into new markets.
Founded in 2013, Cashify also provides after-sale services like repair and buyback at users’ doorsteps. It plans to open brick and mortar stores, expanding its presence in 51 cities across India. In March 2021, the company raised $15 million in a Series D funding, led by Olympus Capital’s clean energy and sustainability arm Asia Environmental Partners.
Mandeep Manocha, Founder and CEO of Cashify, said that the company looks forward to stepping up their presence and offerings for the valued customers in India and fulfilling its broader goal of integrating the circular economy.
“We will continue to map opportunities and offers that would bridge the gap between the customers, industry and the stakeholders that matter,” he added.