In a bold move to reshape the landscape of re-commerce in East Africa, Kenyan startup Badili has successfully secured an undisclosed amount of seed funding from E3 Capital. This strategic funding infusion is poised to propel Badili's expansion into new markets across the region. Let's delve into the story of how this reverse commerce platform is set to redefine the refurbished mobile phone market.
Badili's Unique Proposition
Founded in 2021, Badili operates as a reverse commerce platform specializing in refurbished phones. The startup's innovative model involves aggregating, repairing, and reintroducing used or damaged mobile phones into the market. Operating in Kenya, Tanzania, and Uganda, Badili collaborates with major e-commerce platforms, local trade partners, and Mobile Network Operators (MNOs) to offer consumers access to top-tier smartphone brands. The platform employs local refurbishment techniques, enabling it to deliver devices at a fraction of the price of new models without compromising quality.
Previous Milestones and Acceleration
Having raised a pre-seed round last year and successfully participated in the 12th edition of the SOSV MOX accelerator, Badili secured $150,000 in funding. Building on these achievements, the recent seed capital from E3 Capital marks a significant milestone for the startup. E3 Capital, with a focus on early-stage businesses promoting digitized, decentralized, and decarbonized business models across Africa, sees potential in Badili's unique approach to re-commerce.
E3 Capital's Strategic Investment
E3 Capital's investment, facilitated through the E3 Low Carbon Economy Fund (E3 LCEF I), is designed to facilitate Badili's expansion beyond East Africa. The overarching goal is to enhance Africa's digital infrastructure by providing affordable access to consumer devices. As Badili embarks on this ambitious journey, it aims to tap into new markets, creating a ripple effect that extends the benefits of affordable and environmentally friendly electronics to a broader audience.
Rishabh Lawania, the CEO and co-founder of Badili, expressed enthusiasm about the partnership with E3 Capital. He envisions a significant impact on both the business and the lives of thousands of aspirational African consumers seeking affordable and eco-friendly electronics. Lawania's vision aligns with Badili's commitment to revolutionizing the re-commerce space, making it a win-win for the company and its growing consumer base.
E3 Capital's Endorsement
Paras Patel, Managing Partner at E3 Capital, highlighted the alignment of supporting Badili with E3's ethos of fostering digital innovation while advocating for environmental sustainability. Notably, refurbished phones contribute to an 87% reduction in associated CO2eq emissions compared to new models, underscoring the positive climate impact of Badili's business. E3 Capital commended Badili's ability to scale its business model in multiple East African markets and form key partnerships within the ecosystem.
In conclusion, Badili's journey fueled by strategic funding, innovative re-commerce practices, and a commitment to environmental sustainability sets the stage for a compelling narrative in East Africa's tech and business landscape. As the startup charts its course toward expansion, it stands as a beacon of change in the dynamic world of refurbished mobile devices.