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Venture- debt firm Trifecta Capital has provided ₹6 crore in venture debt to Manak Waste Management, which owns and operates online used-phone and gadget portal Cashify. It will use the money to meet growing working- capital requirements. Mandeep Manocha, CEO and co-founder, Manak Waste Management, was quoted in a release as saying that through this debt, which was available at attractive terms, the company was able to minimise equity dilution. Rahul Khanna, co-founder, Trifecta Capital, said Trifecta was convinced that venture debt was the right solution for Cashify’s business.
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