Jaipur based InstaCash, Co-founded by Prateek Goel and Dixit Singhvi is a re-commerce platform to sell old/used mobile phones, has launched its operations in Malaysia through the strategic partnership with CompAsia, to expand its reach in major South East Asian and East Asian countries.
InstaCash currently services over 12,000 trades a month and is now expanding to other bigger cities in the country to help service more customers.
InstaCash is a Re-commerce platform that allows people to sell an old phone without the hassles of negotiations. The mobile app tests the phone functionalities and conditions using an intelligent algorithm to provide the best price of the phone in no-time. It also offers home pickup and instant payment facilities to make mobile selling process easy for the customers. The key competitors of InstaCash are Cashify, Budli, etc.
InstaCash's partnership with CompAsia is designed to establish a unique device lifecycle ecosystem in the Malaysian and Asian markets, which addresses environmental e-waste, and optimizes on reusable tech via a digital app platform which caters directly to the needs of the consumers.
Julius Lim, Founder & CEO of CompAsia added “ InstaCash App is launched successfully in Malaysia and will soon roll it out to the rest of South-East Asian markets which will help us reach out to more customers”
He also added, “Our target is to sell 6 million to 7 million devices by 2020. And with this strategic partnership with InstaCash, we will build a consumer-to-business (c2b) portion of the supply chain which will eventually contribute to about 1 million devices.”
InstaCash Malaysia spokesperson Mr. Henry Ng added, “Initially we launched in the Klang Valley, InstaCash now supports Malaysians nationwide to trade-in their phones for a hassle-free experience. Once a customer has completed their transaction with the InstaCash App, they are contacted, and a courier would be assigned to collect the phone within 24 hours".