India has an unorganised market of 70 million refurbished smartphones with a year-on-year 35 per cent growth, said an industry official.
"Consumer behaviour of this market promises an opportunity for organised players in this segment and many have started betting on it. Creating C2B platform is the best solution to cater to the secondary market," founder of InstaCash Prateek Goel said.
The firm has purchased 9,000 units of smartphones within seven months of its operation. The secondary buyer market exists in states such as Rajasthan, Gujarat, UP, MP and Maharashtra and J&K.
InstaCash, which has operations in New Delhi till now, will soon be operating from Jaipur, he added.