Kenyan re-commerce startup Badili secures seed funding from E3 Capital

Daba Finance/Badili secures seed funding from E3 Capital

STARTUP VENTURE CAPITALJanuary 13, 2024 at 3:36 PM UTC

TLDR

Kenyan startup Badili has received seed funding from E3 Capital to expand into new markets in East Africa.
Badili is a "re-commerce" platform that refurbishes and sells used mobile phones at affordable prices.
The funding will support Badili's collaboration with e-commerce platforms, trade partners, and mobile network operators.

Kenyan startup Badili, a reverse commerce or "re-commerce" platform specializing in refurbished phones, has secured an undisclosed amount of seed funding from E3 Capital to support its expansion into additional markets across East Africa.

Established in 2021 and already operational in Kenya, Tanzania, and Uganda, Badili focuses on aggregating, repairing, and reintroducing used or damaged mobile phones to the market. The platform collaborates with major e-commerce platforms, local trade partners, and mobile network operators. Badili's model allows consumers access to top-tier smartphone brands at a fraction of the price of new models, leveraging local refurbishment to maintain quality standards.

After raising a pre-seed round last year and participating in the 12th edition of the SOSV MOX accelerator, where it secured $150,000 in funding, Badili has now secured seed capital from E3 Capital, which invests in early-stage businesses facilitating digitized, decentralized, and decarbonized business models across Africa.

Key Takeaways

Africa might be one of the fastest-growing mobile phone markets in the world but affordability remains a key barrier to smartphone penetration, which is key to powering Africa’s digital economy. In Kenya, the feature phones market share currently stands at 55.1% although smartphone penetration is deepening. With most consumers turning to second-hand devices, Badili is tapping the growing refurbished and used mobile phones market, which is expected to hit $146 billion by 2030, growing at a CAGR of 11%.

Badili

Re-commerce

E-commerce

E3 Capital

SOSV MOX

Venture Capital

Startups