Cashify’s Financials, Revenue, Profit, Valuation & Shareholding Overview (2025)
Legal Name: Manak Waste Management Private Limited | CIN: U27205DL2009PTC190441
Cashify, founded in 2015 by Mandeep Manocha, Nakul Kumar, and Amit Sethi, is India’s leading device buyback and recycling platform. Headquartered in Delhi, Cashify offers a seamless online experience for selling old smartphones, laptops, and appliances, backed by doorstep pickup and instant payments. By partnering with over 2,000 service centers and certified recyclers, Cashify ensures responsible e-waste management and extends product life cycles. The company’s proprietary price benchmarking engine and AI-driven valuation model power transparent transactions, serving over 5 million users annually. In FY24, Cashify expanded into Southeast Asia, launched its own-refurbished device brand, and reported ₹600 Cr in revenue, with a net profit of ₹50 Cr and EBITDA margins of 12%. Supported by Sequoia India, SAIF Partners, and Falcon Edge, Cashify has raised $72 million to drive sustainability initiatives and reverse-logistics network expansion.
| Founding year | 2015 |
|---|---|
| Headquarters | New Delhi, India |
| Valuation | ~$200M (2023) |
| Total Funding | $72M |
| Annual Revenue | ₹600 Cr (FY24) |
| Annual Net Profit | ₹50 Cr (FY24) |
| EBITDA Margin | 12% (FY24) |
| Employees | ~500 (FY24) |
| Round | Date | Amount | Investors |
|---|---|---|---|
| Series A | 2015 | $5M | Sequoia India |
| Series B | 2017 | $12M | SAIF Partners |
| Series C | 2019 | $20M | Falcon Edge |
| Series D | 2021 | $35M | Ecosystem Integrity Fund |
- Expand reverse logistics to electronics beyond smartphones.
- Launch certified refurbished brand in international markets.
- Integrate blockchain for supply chain transparency.
- Partner with OEMs for trade-in programs.
- Plan IPO once EBITDA margins stabilize above 15%.
In 2025, Cashify announced a partnership with Indian Railways to set up device collection kiosks at 100+ stations.
| Metric | Details |
|---|---|
| Revenue | ₹300 Cr → ₹450 Cr → ₹600 Cr |
| Profit | ₹10 Cr → ₹25 Cr → ₹50 Cr |
| EBITDA Margin | 5% → 8% → 12% |
| Employees | 400 → 450 → 500 |
| Funding | $5M → $12M → $20M → $35M |
| IPO Status | Private; evaluating public offering. |
| Expansion Focus | Reverse logistics, refurbished brand, blockchain. |
| Latest News | Railways kiosks launched |
Cashify’s impressive revenue acceleration, profitability and ecosystem partnerships underscore its leadership in device lifecycle management. Continued innovation in reverse logistics and global expansion will support its path to an IPO.
Make smarter business decisions with verified insights on companies and directors. Visit Affluense.ai to learn more.
- Inc42 & ET: FY24 financials
- Tracxn & Crunchbase: funding data
- Press release: Railways kiosks partnership
- Cashify website
Disclaimer: © 2025. All information is curated from public and third-party sources and provided solely for legitimate business use.