Swappie raised 108 million euros during an investment round. The amount is purposed for European growth and an expansion of its refurbished iPhone business.
Swappie, a Finland-based provider of refurbished iPhones, buys used devices to repair and resell in its stores. The company’s ability to closely control the value chain boosts the quality and sustainability of refurbished devices.
Expansion in Europe
In a recent C-series investment round, Swappie raised 108 million euros. Contributors include Verdane, Lifeline Ventures, Inventure, Reaktor Ventures and TESI.
Swappie wants to use the amount to increase its European footprint and become a market leader. To this end, the refurbished specialist plans to expand into 15 new markets, including Italy and Germany.
Circular smartphone economy
In addition to increasing its footprint, Swappie wants to generate more attention for a circular smartphone economy. The organization hopes to increase public confidence in refurbished devices by promoting quality and ecological awareness. Refurbishing reduces CO2 emissions in the production and delivery of smartphones.