Re-commerce startup Cashify to get into branded accessories

NEW DELHI: Around 200 million mobile phones are sold in India every year. With shrinking life-cycles and consumer preference for new models more frequently, many phones find their way into the re-commerce market. According to a Deloitte India report, India’s used smartphone market is expected to reach $4 billion by 2020. Cashify, a re-commerce startup backed by Blume Ventures, Trifecta Capital and others, plans to open 150 offline stores in 2020 as it sees demand increasing for used phones. In an interview, Nakul Kumar, co-founder & COO, Cashify discusses the re-commerce market, plans for 2020 and more. Edited excerpts: