Cashify nears Rs 1,000 Cr revenue in FY24, cuts losses by two-third

Cashify, an e-commerce platform for buying and selling used electronics, is expected to report ₹1000 crore in revenue for FY24, with a significant reduction in losses by two-thirds. The company has managed to streamline operations and improve its financials by focusing on operational efficiency and expanding its customer base. Cashify’s growth is attributed to the increasing demand for refurbished electronics, as consumers seek affordable alternatives to new gadgets. The company’s strategy of offering convenient services, including device collection and doorstep pick-up, has also contributed to its success. The substantial reduction in losses indicates that Cashify is moving towards profitability.