Kenyan Startup Badili Secures Seed Funding from E3 Capital to Expand "Re-commerce" Platform Across East Africa
Badili, a Kenyan startup specializing in reverse commerce, commonly known as "re-commerce" for refurbished smartphones, has announced a successful seed funding round from E3 Capital.
The financial backing is aimed at facilitating the company's expansion into several East African markets.
Established in 2021, Badili has rapidly expanded its footprint, serving customers in Kenya, Tanzania, and Uganda.
The company focuses on collecting, repairing, and reintroducing used or damaged mobile devices back into the market.
This is achieved through collaborations with major e-commerce platforms, local trading partners, and Mobile Network Operators (MNOs).
One of Badili's distinctive offerings is providing consumers access to renowned smartphone brands at significantly reduced prices.
This affordability is made possible through local refurbishment processes, ensuring that consumers get quality devices without the hefty price tag of new models.
Last year, Badili secured funding through a pre-seed round and also participated in the SOSV MOX accelerator's 12th edition, where they received an investment of US$150,000.
This recent seed funding from E3 Capital underscores the venture capital firm's commitment to early-stage businesses that champion digital, decentralized, and sustainable business models across the African continent.
E3 Capital's investment, facilitated via the E3 Low Carbon Economy Fund (E3 LCEF I), aims to accelerate Badili's market penetration beyond East Africa.
The initiative seeks to bolster Africa's digital infrastructure by offering affordable smartphone solutions to consumers.
Expressing enthusiasm about the partnership, Rishabh Lawania, CEO, and co-founder of Badili, commented, “We're thrilled to collaborate with E3 Capital, a prominent African venture capital entity, as the principal investor in our recent seed funding round. This partnership promises transformative impacts, benefiting our business and thousands of African consumers seeking cost-effective and eco-friendly electronics."
Paras Patel, Managing Partner at E3 Capital, echoed Lawania's sentiments, emphasizing E3's commitment to digital innovation and environmental sustainability.
Patel highlighted the significant environmental advantages of Badili's model, noting that refurbished phones contribute to an 87% reduction in associated CO2eq emissions compared to new devices.
He commended Badili's rapid growth and strategic partnerships in Kenya, Uganda, and Tanzania, underscoring the company's positive impact in the region.
Tom Jackson / Disrupt Africa