Online used-device seller Cashify has roped in former executive at Pickrr, Subodh Garg, as the company’s first chief financial officer.
“I am looking forward to collaborating with the team and contributing towards strengthening the company as a sustainable and profitable business model,” said Garg.
Garg, who has an experience across financial domain for over 20 years, was the CFO at Pickrr and also held other leadership roles with startups including Bulbul and Healthkart.
In his new role at Cashify, Garg will lead the company's long-term profitable growth and strategy and ensure financial readiness, it said in a statement on Tuesday.
“Subodh’s leadership and commercial judgment is crucial for us at this juncture. The experience he brings in after working with various industries — both corporate and startups — will definitely help Cashify flourish sustainably in the current scenario,” said Mandeep Manocha, co-founder and chief executive officer, at Cashify.
New Delhi-based Cashify, run by Manak Waste Management Pvt. Ltd, was founded by Manocha, Nakul Kumar, Amit Sethi and Siddhant Dhingra in 2013. It is a reseller of consumer electronic devices such as smartphones, laptops, tablets and more.
Last month, Cashify had raised Rs 53 crore from e-commerce major Amazon and existing investor Blume Ventures.
The latest round which appears to be a part of its ongoing Series E funding announced in June, Amazon, via Amazon.com NV Investment Holdings LLC, and Blume Ventures invested Rs 39.5 crore and Rs 13.5 crore, respectively.
Cashify’s operations primarily fall under three categories: sourcing, refurbishing and selling. The startup sources pre-owned devices, primarily smartphones, from individuals.
For making the procurement process easy and simple as well as rewarding for sellers, it has tied up with large format retail chains and e-commerce platforms to offer exchange programmes for the purchase of new devices. Cashify has an in-house facility to refurbish the devices that it sells to users with a six-month warranty.
