Based out of Helsinki, Swappie is the online store selling refurbished smartphones that intends to give people a way to upgrade their phones that is high quality, affordable, and environmentally friendly. Recently, the Finnish company has secured $40.6 million (€35.8 million) Series B funding round.
Sami Marttinen, CEO and co-founder of Swappie, said: “As consumers become more aware of the environmental impact that their purchasing decisions have, we expect to see far greater demand for high quality refurbished smartphones. Because we refurbish every device ourselves, in our own factory, we control the whole value chain. This means we can deliver the highest quality devices, under warranty, for much less than the cost of a new phone. We’ve already seen fantastic demand for Swappie and we are thrilled to be announcing today’s investment, which will allow us to accelerate our international expansion and make the circular smartphone economy truly mainstream across Europe.”