Company Research Report: Cashify
Company Overview
Name, Mission of the Company
- Name: Cashify
- Mission: Building a world where tech doesn’t need to cost the pocket or the planet. Cashify fosters sustainability by redefining what we choose to do with tech gadgets - buy, repair, sell, refurbish, reuse, and repeat.
Foundation Details
- Founded: 2009
- Founder(s): No specific names provided for the founders except the transition from ReGlobe to Cashify in 2013.
Key People in the Company
- Mandeep Manocha: Co-Founder, CEO
- Amit Sethi: Co-Founder
- Nakul Kumar: Co-Founder, Chief Marketing Officer
- Siddhant Dhingra: Co-Founder, Chief Business Officer, Global Markets
Headquarters
- Location: B-39, 1st Floor, Middle Circle, Connaught Place, New Delhi-110001, India
Number of Employees
- Employees: Approximately 2000
Revenue
- Revenue: No specific revenue information is provided.
Company Recognition
- Known For: Cashify is renowned for being a leading platform in India for selling, buying, and repairing mobile phones and other gadgets. It stands out due to its commitment to sustainability and customer-centric services like doorstep pickups and immediate payments.
Products
Overview
Cashify offers a variety of services and products revolving around mobile electronics:
- Sell Phone
- Buy Phone
- Buy Laptops
- Repair Phone
- Find New Phone
- Recycle
- Buy Smartwatches
High Level Description of Major Products
- Sell Old Phone: Users can sell their old mobile phones online easily via Cashify’s platform. Cashify offers doorstep pickup and instant payment.
- Buy Refurbished Devices: Cashify provides a marketplace for buying refurbished phones, laptops, smart watches, etc., which undergo stringent quality checks and are backed with a warranty.
- Repair Services: Fast and reliable repair services for smartphones encompassing screen replacement, battery issues, and other common problems.
Key Features
- 32-point Quality Check: For refurbished gadgets, ensuring top-notch quality.
- Home Pick-up and Drop: Services for selling and repairing gadgets.
- Instant Cash: Quick payment for selling old gadgets.
- 6 Months Warranty: On all refurbished products sold by Cashify.
- Eco-friendly: Annual campaigns for sustainability, reusing tech devices to minimize waste.
Recent Developments
New Milestones and Initiatives
- Series E Funding (2022): Raised $90 million from NewQuest Capital Partners and Prosus.
- Series D Funding (2021): Raised $15 million led by Olympus Capital Asia’s sustainability arm, Asia Environmental Partners.
- Brick and Mortar Expansion (2019): Opened its 100th offline store by March 2022.
Recent Campaigns
- Reuse with Cashify Campaigns: Initiatives like donating refurbished mobile phones for education, distributing monsoon essentials, and other charitable activities throughout 2024.
- Donate for Education Campaign (2020): Provided free refurbished mobile phones to help children attend online classes during the COVID-19 pandemic.
Partner Developments
- Strategic Partnerships (2013): Became official buyback partner for several OEMs including Apple, Amazon, eBay, Samsung, OnePlus.
New Product Launches
- No information is available on specific new product launches.
Feature Additions
- No information is available on new features added to existing products.
Partnerships
- No explicit mention of new partnerships beyond those established historically.
Summary
Cashify continues to thrive and expand its services, emphasizing sustainable and user-friendly solutions for mobile gadgets. The company’s strong focus on environmental impact and collaboration with OEMs positions it as a leading player in the re-commerce space in India.
