Swappie raises $40,6M as it expands across Europe

Inventure portfolio company, Swappie, raises $40,6M to sell more secondhand iPhones across Europe

Swappie raises $40,6M as it expands across Europe

Finland-based Swappie has closed a €35.8 million ($40.6M) Series B to expand into new markets in Europe. The ecommerce business refurbishes and resells used iPhones, taking care of the entire process from testing and repairing used handsets, to selling the refurbished devices via its own marketplace, with a 12-month warranty.

Local VC and private equity firm TESI is a new investor in the Series B, along with Lifeline Ventures, Reaktor Ventures and Inventure Investors, all of whom participated in Swappie’s 2019 Series A. The total raised to date since the business was founded in 2016 is $48M.

Right now Swappie  operates in Finland, Sweden, Denmark and Italy. The new financing will be used to expand across Europe, beginning with launches in Germany, Ireland, Portugal and the Netherlands this summer.

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