Hotline: 1800 102 2007
X
Search Business Opportunities
Jun, 30 2018

Re-commerce firm Cashify raises $12 mn from Chinese Investors, EI

Existing investors Bessemer Ventures and Shunwei Capital also took part in the round. Chinese re-commerce firm Aihuishou also invested in the firm in this round.

Online electronics selling platform, Cashify has raised $12 million (Rs 82.19 crore) in a Series C round led by Chinese alternative asset management firms CDH Investments and Morningside Group, a top company executive said.

Existing investors Bessemer Ventures and Shunwei Capital also took part in the round. Chinese re-commerce firm Aihuishou also invested in the firm in this round.

The company will use the latest capital to scale up its backend operational capabilities and set up more refurbishing centres over the next 12 months, Cashify’s co-founder and chief executive Mandeep Manocha said.

“Our time, energy and funds raised until now have primarily gone towards ramping up our operational capabilities. Now, we want to spend a bit on marketing as well as to build a brand,” Manocha added.

The company had first raised an undisclosed amount from Blume Ventures, M&S Partners and Bessemer Venture Partners in 2015.

It raised its Series A round in July 2017 from new and existing investors, including Shunwei Capital. It hasn’t disclosed its Series B round.

Comment
image
Related opportunities
  • Furniture/Home Decor & Furnishing
    About Us: Commune, Founded in 1972 Furniture brand with cutting-edge design and craftsman..
    Locations looking for expansion New Delhi
    Establishment year 2019
    Franchising Launch Date 2019
    Investment size Rs. 1 Cr. - 2 Cr
    Space required 3000
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater Faridabad New Delhi
  • Competitive Exam Coaching Institute
    About Us: Searching for a premium franchise opportunity in booming education..
    Locations looking for expansion Karnataka
    Establishment year 2009
    Franchising Launch Date 2009
    Investment size Rs. 2lac - 5lac
    Space required -NA-
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater Bangalore Karnataka
  • Quick Service Restaurants
    About Us: Pizza is easily recognised food item in the world,..
    Locations looking for expansion Gujarat
    Establishment year 2012
    Franchising Launch Date 2018
    Investment size Rs. 20lac - 30lac
    Space required 150
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater Ahmedabad Gujarat
  • Quick Service Restaurants
    About Us:  Gol Gappa Street is an upcoming chain of India's..
    Locations looking for expansion Gujarat
    Establishment year 2016
    Franchising Launch Date 2018
    Investment size Rs. 10lac - 20lac
    Space required 700
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater Ahmedabad Gujarat
Insta-Subscribe to
The Franchising World
Magazine
For hassle free instant subscription, just give your number and email id and our customer care agent will get in touch with you
OR Click here to Subscribe Online
Daily Updates
Submit your email address to receive the latest updates on news & host of opportunities