Recommerce startup Cashify acqui-hires screen repairing startup Teksolvr

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Gurugram-based recommerce platform Cashify has acqui-hired Chandigarh-based hyperlocal screen repair service provider Teksolvr for an undisclosed amount. The acqui-hiring deal is closed between Teksolvr and Cahify’sphone screen repair service Cashify ScreenPro.

The core team of Teksolvr will join Cashify ScreenPro as a part of the deal to scale up their screen repairing services. The startup is also planning to expand the services to different cities and locations across North India.

Founded by Manpreet Singh in 2017, Teksolvr offers live screen repairing services to smartphone owners. The startup is currently operational in Chandigarh, Panchkula and Mohali area. According to Cashify, the deal will help ScreenPro to explore the Tricity’s market.

Cashify’s ScreenPro division has serviced more than 1 lakh customers across cities like Noida, Delhi, Mumbai, Gurugram and Bengaluru. The company currently offers instant screen repairing services at customers’ doorstep. Cashify is looking forward to reducing the total turnaround time for the service with this deal.

“An independent study suggests that more than 30% of premium smartphone owners worry about their screen, and a minor crack is enough to get them thinking about a replacement. Naturally, a prompt and hassle-free screen repair service that delivers quality will become a quick favourite”, said Kshitij Mohan, business head-ScreenPro.

Cashify earlier raised INR 83.7 crores ($12 million) in series C round of funding from CDH Investments and MorningSide Group in June 2018. Founded in 2009 by Amit Sethi, Mandeep Manocha and Nakul Kumar the startup has raised a total of INR 91 crores ($13 million) in funding from investors like Bessemer Venture Partners, Aihuishou, Shunwei Capital, M&S Partners, Trifecta Capital Advisors and Blume Ventures.

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SW Staffhttps://startupwonders.com/guestpost
Startup Wonders provide startup resources, stories and news to help budding entrepreneurs grow and succeed in their business career.

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