Gurgaon based Krieda Solutions’ pre-owned console games store GameXS, said on Tuesday it has raised an undisclosed amount in seed funding from Mumbai-based angel network Lead Angels.
The company will use the funding to scale up operations, expand product portfolio and hire more people. Sanjay Krishna Goyal, founder and CEO of ACL Mobile, is the lead investor, GameXS said in a statement.
GamesXS was founded in 2012 by Kabeer Jain, and offers free doorstep pickup within one day in over 5,000 pin code areas. Kabeer, IIT Delhi alumni, was working with Trefis, a financial services firm, as an equity research analyst before founding this venture.
Kabeer was joined by Abhishek Jain, an IIT Roorkee graduate two years later in August 2014 as COO.
“The typical Indian gamer is passionate and reads a lot about games and the gaming industry world over, but is not able to play most of them because of high prices. By offering fair prices and a simple and convenient checkout to buyers and sellers, and super-fast pickups and deliveries, GameXS enables gamers to get to gaming quickly while getting the most bang for their buck,” said Kabeer.
The pre-owned company claims to have processed more that 10,000 sale transactions and close to 6,000 trade-in transactions with a repeat customer rate of about 50 per cent. It also offers game rentals, e-sports, merchandising and gaming content development.
Lead Angels, founder and CEO, Sushanto Mitra said the USP of GameXS is its extensive collection of pre-owned games and consoles as well as the quality assurance that makes buying used games fast and hassle-free as opposed to classifieds.
“In addition, with its proprietary trade-in algorithm, GameXS allows gamers to sell any game at any time at a fair price in just a few clicks,” he said.
GamesXS aims to grow the pre-owned games market and make gaming more accessible in India.
