Badili, a leading re-commerce company specialising in refurbished smartphones, has secured a $400,000 debt investment from Proparco. This funding, announced Tuesday, aids Badili’s refurbished electronics program in Africa, mainly Kenya.
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Investment details for expansion
Proparco’s initiative emphasises the role of smartphone ownership in local economic resilience. It increases access to vital online services, which boosts economic growth.
Through major e-commerce platforms, local trade partners, and Mobile Network Operators (MNOs), Badili aggregates, repairs, and resells discarded or damaged mobile phones. This method lets people buy top-tier smartphones at a fraction of the cost of new devices without sacrificing quality.
According to Rishabh Lawania, Founder and CEO at Badili, “Getting validation and trust from PROPARCO is a great boost to the morale of the team that is building a sustainable company that enables Africans to own smartphones for a fraction of the cost of a new one. As we enter into the phase of profitability and expansion into other regions across Africa, it’s a great pleasure to welcome one of the most progressive and supportive DFIs in the world as a part of Badili’s billion-dollar journey”.
In addition to environmentally sustainable practices, Badili’s operations also concentrate on economic expansion. By refurbishing and reselling used phones, Badili promotes a more circular economy and reduces electronic waste.
E3 Capital, one of its investors, promotes digitised, decentralised, and decarbonised business models throughout Africa.
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Badili expanding in Africa
Since its establishment in 2021, Badili has been furthering its presence in Africa. The company has secured various funding rounds to support its development, initially operating in Kenya, Tanzania, and Uganda.
Before the Proparco investment, Badili received preliminary funding from E3 Capital to expand into additional East African markets.
After raising $2.1 million in pre-seed funding from venture capitalists and angel investors, the company hopes to expand throughout West Africa.
Badili collaborates with Samsung and uses a pricing estimation algorithm to value phones. This method is reliable for buyers and sellers because transactions are transparent and fair. With the new financing, Badili can improve its offers and expand inexpensive smartphones in Kenya and beyond.