Cashify is looking to raise Rs 1,500-1,800 crore in total. The mix of primary capital and OFS will be decided at a later stage, sources told Moneycontrol
The Amazon-backed re-commerce platform saw robust growth across its core refurbished devices business and ancillary services, even as disciplined cost control helped it improve margins and pare losses.
According to industry estimates, India's pre-owned smartphone market is valued at around $5 billion, with the organised refurbished market accounting for 20-25 percent of the figure. This market is expected to double to $10 billion by 2030