Circular smartphones II

Making mobile phones more affordable via refurbishment.

Resumo do investimento

Categoria de impacto

Economia verde

Tipo de investimento

Empréstimo

Juro anual

5.5

Prazo

meses

Nível de risco

B-

Ver mais

Founded in 2013, Binomia ltd is based in the UK, and it owns 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.

This is the second campaign held by Binomia Ltd at GoParity. After raising 100.000€ in the first campaign, the entity will aim at raising 100.000€ more to further expand and grow its operations in Europe. Roughly 70% of the funds raised through this campaign will be used to prepare for the busy season coming up during the last quarter of the year (Black Friday and Christmas), i.e. to buy more stock. Around 20% of the funds will be used to expand their website to more European countries and the remaining 10% to invest on a marketing and analytics SaaS (i.e. Service as a Software) platform to improve the company's analytics and customer marketing.

The group’s revenue run rate has increased to over 4 million euros which will help to repay the loan. Binomia also has multi-year international development contracts to roll out low-cost smartphones’ solutions in Africa, the largest of these contracts is worth up to 3 million USD.

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.

Operating primarily in the UK and Ireland, Binomia is fast-growing, having a smaller presence in Africa, with international development contracts to roll out low-cost smartphones’ solutions in the continent, including a contract worth up to 3 million USD. In some African countries, access to an internet-enabled phone is restricted due to the cost of purchase. This solution has the potential to help reduce the digital gap, by allowing access to a smartphone for the first time.

Qual é o impacto?

Direct

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.

Indirect

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.

Contribuição para os Objetivos de Desenvolvimento Sustentável
‍

Sobre o promotor

About

Binomia Ltd

Fundado em 2013 no Reino Unido, o grupo Binomia Ltd é a holding do grupo com o mesmo nome e possui um website de comércio online de telemóveis recondicionados denominado Gettech.com, através de uma subsidiária na Irlanda.

O grupo empresarial tem 18 funcionários e lucros anuais superiores a 4 milhões de euros. A empresa já foi investida por vários fundos de capital de risco, incluindo a Downing Ventures e a Force Over Mass Capital, e alguns business angels, tendo arrecadado mais de 5 milhões de euros em investimentos de capital.

Além de ter um mercado potencial bastante grande, a GetTech tem uma margem relevante por equipamento, permitindo aos clientes finais economizar até 60% por dispositivo, em comparação com a compra de um novo dispositivo.

A equipa de gestão da empresa tem experiência no setor das telecomunicações e dos telemóveis. Antes de se juntar à Gettech, o atual diretor trabalhou no setor de recondicionamento de equipamentos móveis por 8 anos; o CTO do grupo já trabalhou numa grande empresa de retalho no setor dos telemóveis no Reino Unido, e o CEO tem mais de 8 anos de experiência no setor de software.

Website do promotor

https://gettech.com

Modelo de negócio
‍

Lorem ipsum dolor sit amet, consectetur adipiscing elit. Suspendisse varius enim in eros elementum tristique. Duis cursus, mi quis viverra ornare, eros dolor interdum nulla, ut commodo diam libero vitae erat. Aenean faucibus nibh et justo cursus id rutrum lorem imperdiet. Nunc ut sem vitae risus tristique posuere.