Swappie operates an online marketplace that buys, refurbishes and sells iPhones to provide high-quality, affordable and eco-friendly phone upgrades. The company refurbishes devices using advanced technology to reduce environmental waste and extend device lifespans. It claims a refurbished iPhone has an 80% lower carbon footprint than a new one and notes that using a phone for an extra year cuts lifetime emissions by a third. Swappie reported €208M in sales in 2022, has grown to over 800 employees, and previously raised €149M in funding. Future plans highlighted in the announcement include investing in research and development, robotics to speed and improve repairs, improving refurbishment processes, expanding the product range, and growing internationally. Swappie refurbishes and resells used iPhones, managing the entire refurbishment process and selling devices via its own online marketplace with a 12-month warranty. The company emphasizes standardizing quality and promoting sustainability to make refurbished phones mainstream. It aims to scale across Europe and increase consumer trust in the refurbished smartphone sector. Swappie highlights environmental benefits of extending phone lifespans and cites market growth forecasts for used and refurbished smartphones. The company faces competition from other re-commerce players including Refurbed, Back Market, Swappa and Amazon Renew. Financially, Swappie has raised multiple funding rounds and recently completed a large growth financing to support expansion. Swappie is an e-commerce scale-up that refurbishes and resells used iPhones, operating its own factory to test and repair devices and offering a 12-month warranty. The company performs deep hardware repairs (including motherboard-level work) and uses original refurbished iPhone parts to maintain quality. Swappie reported revenues grew 4x from 2018 to 2019, exceeding $35M in net revenue in 2019, and recorded a 5x net revenue increase in April–May 2020 versus the same period in 2019. The team says it has refurbished and sold a six-figure (hundreds of thousands) number of iPhones to date. Swappie currently operates in Finland, Sweden, Denmark and Italy and plans to expand to Germany, Ireland, Portugal and the Netherlands this summer. Management is also evaluating expansion beyond Europe and may build a broader international roadmap in future.

Total raised

$181M

Funding rounds

3

Latest round

Debt Financing

Latest activity

May 2024