Refurbished Smartphones III

European expansion of second hand smartphone website.

Resumen de la inversión

Categoría de impacto

Economía verde

Tipo de inversión

Préstamo

Interés anual

6.5

Plazo

meses

Nivel de riesgo

B-

Founded in 2015, Trueblue ecommerce ltd is a fast-growing and profitable business based in Ireland that operates a phone e-commerce website Gettech.com. The company refurbishes second-hand phones and sells them online to consumers via Gettech.com, a brand owned fully by the company, that has generated significant profits over the last three years with a profit before tax from 2019 to the end of 2021 of around 337.359€ (in aggregate).

This is Trueblue eCommerce Ltd third Goparity campaign to further expand and grow its operations in Europe, after raising 250.000€ in Refurbished Smartphones I and II. This is the third campaign run by Trueblue eCommerce Ltd. Another two campaigns were previously promoted by its parent company and shareholder Binomia Ltd (Circular Smartphones and Circular Smartphones II).

Trueblue now wants to raise 50,000€ to expand and grow its European operations even further.

Binomia ltd has previously raised over £5 million of equity funding from several venture capital funds including Downing Ventures, along with a number of family offices and angel investors.

The promoter is making smartphones more affordable in an environmentally sustainable way by refurbishing used devices. Customers can save up to 60% if they buy a refurbished device, in comparison with a new device.

The funds raised will be used to:

expand marketing in Europe,
improve the company's website,
improve website localization by including translations into several languages
increase working capital further to scale up purchases of used devices from its customers and other channels.

Operating primarily in Ireland, the company sells its higher-end devices mostly in Ireland and Europe but has also been selling lower-cost devices into West Africa. In some African countries, access to an internet-enabled phone is restricted due to the cost of purchase, so Gettech’s solution for Africa has the potential to help reduce a digital gap, by allowing access to a smartphone for the first time. Gettech has also launched a buyback service in 2022 at sell.gettech.com to buyback devices from its customers.

¿Cuál es el impacto?

Direct impact

Promotion of circular economy: the refurbishing of mobile phones will avoid the waste of 30.000 devices in the next 24 months, recycling them and enabling them to further utilization.
Jobs creation: with the funding amount from this campaign, Trueblue will hire one new person help scale up their refurbishment solution.

Indirect impact

Enabling greater access to good quality smartphones: the company’s offering of refurbished phones, particularly when combined with an instalment offering, makes smartphone devices more affordable for the end-user (the overall cost of the devices is up to 60% lower).
Improving equal access: the lower acquisition price of internet-enabled devices improves equality in the access to devices to the more underserved groups, to whom the average cost of a smartphone exceeds their disposable income. Particularly in the group’s sales in Africa, the target is middle- and low-income consumers, rural populations, and women.

Indicadores de impacto
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jobs

created by our projects

Contribución a los Objetivos de Desarrollo Sostenible
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Sobre el promotor

About

Trueblue eCommerce Ltd

Fundada en 2015 en Irlanda, la empresa Trueblue eCommerce Ltd es propietaria de un sitio web de ventas de teléfonos móviles llamado GetTech.com a través de una subsidiaria en Irlanda. El grupo generó más de 3,6 millones de euros en ingresos en 2021, un crecimiento en comparación con los 3,2 millones de euros en 2020 y los 1,9 millones de euros en 2019.

Teniendo en cuenta el producto ofrecido, la empresa tiene la posibilidad de expandir su actividad comercial a una gran cantidad de mercados europeos y extranjeros. GetTech obtiene un margen significativo por cada teléfono vendido, y, al mismo tiempo, permite a sus clientes ahorrar hasta un 60% por dispositivo, en comparación con la compra de un teléfono nuevo.

El equipo de la empresa tiene experiencia en los sectores de las telecomunicaciones y los teléfonos móviles. El director de GetTech trabajó anteriormente durante 8 años en el sector de los teléfonos reacondicionados, y varios otros miembros del equipo tienen experiencia en otras empresas de renovación y reacondicionamiento de dispositivos electrónicos en Irlanda.

Sitio web del promotor

Modelo de negocio
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