HyperXchange

About Us:

HyperXchange is India’s fastest growing brand for refurbished electronics. Established three years ago in 2016, we are disrupting the business by turning its key value drivers on its head:

1) We are turning a predominantly inventory-led business into an asset-light model – leading to non-linear growth

2) We are transforming a cash-&-carry grey market into a credit-based structured economy – helping introduce transparency, trust and institutional funding

3) We are helping to realign a localized, offline business in top metros into a massively distributed, omnichannel powerhouse across India’s Tier 1 and Tier 2 centers – unlocking the potential of recommerce across the largest consumer population in the world.

The success of the hyperXchange model is underlined by our scorching growth. Over the past 3 years, our business scaled 12x, margins improved 7x, topline grew 108x, and usage ballooned by over 400x. 

Market Challenges:

India’s preowned electronics market is the largest in the world – it is projected to explode to $25bn at a 40% CAGR growth rate. However, it is an underserved space, with the grey market dominating over 95% of the current supply.

Grey market-led economy means poor customer experience – both from the perspective of trust (low or no warranty or after sales service) and ease (purchase process is complicated, availability is unpredictable, distribution is localized to certain areas in select metro cities).

An unstructured market also means players do not have access to institutional funding and credit, and would need to rely heavily on cash-&-carry transactions. This, in turn, means that most companies dealing in refurbished electronics follow an inventory-led asset-heavy model – which makes growth slow and difficult. 

It’s a challenge from the perspective of consumers who want to sell their phones, too. Electronics today, and specifically mobile phones (which constitute close to 80% of the refurbished electronics business in India), have short product cycles. Which means they get obsolete fast and their sell value falls quickly. In this situation, sellers would prefer a trusted, automated benchmark of prices at which they can sell their used products. Unfortunately, no such benchmark or automation exists in the industry today.

The hyperXchange solution

We observed the market and created our unique tech-led, asset-light strategy to address both the demand-side and supply-side challenges:

• Demand Side

1. Our unique combination of online and offline Franchise-led retail sales ensures fast asset-light growth, while yielding committed returns to Franchise partners from Month One.
2. HyperXchange’s patented ‘ATM’ Vending kiosks enable a fully automated experience for consumers both wanting to buy as well as their devices

• Supply side

1. Our proprietary WorkBench™ product uses analytics and deep learning to diagnose, revalue and certify old gadgets
2. WorkBench™ at our retail points help customers get the best value for the products they want to sell, in an automated, transparent and fair process
3. This also helps us accurately value and automate our bulk procurement, accelerating quality check speed 40 times, while reducing people cost, helping plan refurbishment in advance, and helping us offer an industry-leading 12 month doorstep warranty on our products 

Stellar Leadership team

hyperXchange’s team has a great mix of experience, growth-hacking skills & fresh energy. They have scaled several multi-billion dollar projects, turned around companies and created marquee brands.

Leading institutions that incubated hyperXchange:

IIM Calcutta’s Innovation Park – India’s leading business school and startup incubator, approved by the Department of Science & Technology.

Microsoft’s Bizspark program meant to showcase and support promising startups

Who are we looking for?

hyperXchange is looking for franchise partners across Tier 1 and Tier 2 locations with:

-          A stellar background in scaling businesses in the past

-          Experience of retail

-          Basic understanding of consumer electronics business

-          Interest in technology

-          Vision to think big

-          Courage to try new things

-          Ability to grow fast

We will help our partners scale retail hyperXperience locations, while our unique omnichannel model yields committed returns from the very first month of operations.