Cashy

About Cashy

Cashy is a fintech company operating as a digital pawnshop, providing customers with secured loans against a variety of personal assets. Founded in 2018 and headquartered in Leobersdorf, Austria, the company aims to digitalize and streamline the traditional pawnbroking process. Cashy offers a hybrid online and in-person service, with physical stores in several cities across Austria and Germany, including Vienna, Linz, Graz, Berlin, and Munich. The company's business model is centered on providing immediate cash to individuals facing short-term liquidity gaps by issuing pawn loans or purchasing their valuables outright. Customers can get an instant online valuation for over 60,000 different items, including electronics, jewelry, luxury watches, designer bags, and even cars. The process allows users to check the value of their item online, hand it over at a store or via mail, and receive payment in cash or through a bank or PayPal transfer. For car pawn loans, a notable feature in Austria is that customers can continue to drive their vehicle while using it as collateral. Cashy's revenue is generated from the interest and fees on its pawn loans and through the resale of unredeemed or purchased items on various platforms. The entire workflow, from online valuation and contract management to the resale of items, is managed through a proprietary software tool. This digital ecosystem is designed to offer a transparent, quick, and uncomplicated alternative to traditional consumer lending, as it does not require credit checks. As of September 2022, Cashy had raised approximately 6 million EUR in capital and was expanding its operations into Germany. PitchBook data indicates a total of $8.53M raised.