Wednesday, June 19, 2024
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Re-commerce Cashify intends to take advantage of the surge in interest in refurbished smartphones and computers by opening 80 additional retail locations around the nation by March. Alok Shukla, vice president of retail at Cashify, stated in an interview that the company presently has 170 locations and that it intends to increase that number to 250 with a $90 million investment. He added that the company also intended to increase its retail footprint from the existing 77 cities to 100 by the end of December.

Due to the rise in the cost of new consumer goods, there is a significant demand on Cashify for used laptops. At the moment, only business-to-business (B2B) channels are used to sell computers. In June, Cashify raised $90 million from backers including NewQuest and Prosus. One of the main drivers behind the fundraiser was retail development.

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