iPhone Swap Today we have another simple but powerful startup | Tech for Good

iPhone Swap

Today we have another simple but powerful startup idea that works.

Finland-based Swappie was co-founded in 2016 by Sami Marttinen (CEO) and Jiri Heinonen (CMO) with the simple mission to give their clients a way to upgrade their phones that is high quality, more affordable, and environmentally friendly. The startup refurbishes and resells used iPhones via its marketplace. It also gives a 12-month warranty.

The smartphone industry has a significant impact on the environment, and 85-90% of it comes during the manufacturing process. Apple, for example, says that iPhone 11 creation emits more than 56kg of CO2. Swappie offers its customers a sustainable choice to reduce waste by buying a professionally refurbished iPhone for less. I've looked up the prices for the new and Swappie-refurbished iPhone 12 128Gb in Greece: 849 and 679 euro respectively.

The smartphone market in Europe where the startup operates is worth over €100 billion but used or refurbished phones currently make up just over 10% of that, with only one in four pre-owned phones resold. In 2020, Swappie grew fivefold in revenue, proving it has rising demand and the ability to expand.

The startup's potential attracted investor interest: the company raised $40.6 million in 2020, closing another $124 million investment round this month.

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