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
  • About Us: MCTA provides Job Ready Certification Programs in Digital Marketing..
    Locations looking for expansion Maharashtra
    Establishment year 2016
    Franchising Launch Date 2018
    Investment size Rs. 10lac - 20lac
    Space required 650
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater Mumbai Maharashtra
  • Ice creams & Yogurt Parlors
    About Us: Makers of Milkshakes thrives on the cravings of the..
    Locations looking for expansion Telangana
    Establishment year 2017
    Franchising Launch Date 2018
    Investment size Rs. 20lac - 30lac
    Space required 150
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater Hyderabad Telangana
  • Ice creams & Yogurt Parlors
    About Us: Iceberg Icecreams is the best-tasting brand in India. With..
    Locations looking for expansion Andhra pradesh
    Establishment year 2012
    Franchising Launch Date 2015
    Investment size Rs. 10lac - 20lac
    Space required 300
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater hyderabad Andhra pradesh
  • Ice creams & Yogurt Parlors
    About Us: Baskin-Robbins – Join the leader with decades of experience..
    Locations looking for expansion Maharashtra
    Establishment year 1993
    Franchising Launch Date 1993
    Investment size Rs. 10lac - 20lac
    Space required 200
    Franchise Outlets -NA-
    Franchise Type Unit, Multiunit
    Headquater Mumbai Maharashtra
Insta-Subscribe to
Entrepreneur
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