Badili, a smartphone reselling startup based in Kenya, has secured $2.1 million in pre-seed capital in order to expand across Africa.
Family offices and angel investors from Kenya, Nigeria, South Africa, and India, as well as Venture Catalysts, V&R Africa, Grenfell holdings, and SOSV, all took part in the round.
We have good ties with original equipment manufacturers and are launching in Uganda and Tanzania” (OEMs). Rishabh Lawania, the startup’s CEO, and Keshu Dubey, its CTO, co-founded it earlier this year. “Within the next six months, we will be expanding to a few West African nations to get our foot in the door of some of the key markets in Africa,” Lawania said.
On behalf of significant OEMs and phone dealers, Badili conducts trade-ins and buybacks. To date, the company has connections with well-known companies including Samsung. It also acquires gadgets from private sellers.
“We are offering a substitute for those who don’t want to purchase a device outright, but I am more thrilled about the fact that we are able to assist many consumers in purchasing their first smartphone,” said Lawania.
The phones are purchased by Badili through its online marketplace and a distribution network of retail stores and independent sales agents.
The business determines the phone’s value using its price estimation algorithm, which considers a number of variables, including the phone’s model and age.
With a one-year warranty, the phones are updated, repackaged, and sold again.
With the additional capital at its disposal, Badili will expand its current operations in Kenya, Uganda, and Tanzania as well as look at expanding into West Africa, where it aims to capitalize on the rising demand for cheap used smartphones.