Private Equity

PE Fund Investments

Electronic devices online reseller Cashify raises Rs.53-Cr from Amazon, Blume Ventures

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E-commerce player Amazon has invested in Gurugram-based Cashify, a re-commerce marketplace for electronic devices such as mobile phones and laptops. The startup had recently announced a USD 90 million Series E round led by NewQuest Capital Partners and Prosus. Cashify is to issue 10 equity and 2195 Series E preference shares at INR 2,39,696 per share to raise INR 52.9 crore in the ongoing round. Amazon will invest INR 39.5 crore, while existing investor Blume Ventures will invest INR 13.4 crore. Following this investment, Amazon will hold a 2.12% stake in the company. Cashify's operating revenue stood at INR 340 crore in the fiscal year ending March 2021.