Article about Refurbly in Breakit:
Former Teliatoppen invests in recycled mobile phones: "Here we have a company with a future for itself."
The mobile recycler Refurbly wants to challenge the wear and tear consumption in the phone market and the 250,000 tons of waste it creates each time, above all in production. Now the approximately three-year-old company has raised 5.9 million in fresh capital via a targeted share issue led by the former Telia CEO Johan Dennelind , Jimmy Palmqvist and David Stenmarck from Epidemic Sound. Both Dennelind and Stenmarck invested in the company already last year.
It feels incredibly fun that existing investors choose to increase their involvement in Refurbly.
We are on our way to something big and see how we help both people and the environment. A mobile phone weighing 226 grams creates a whopping 86 kilos of waste during production – that is, as much as a fully grown human. says CEO David Lundgren Fetah.
Johan Dennelind left as president and CEO of Telia in 2020. He says in a press release that he fell for the combination of building a company and at the same time making a difference for the environment.
Here we have a company with a future in many ways in an area where I spent most of my adult life, says Johan Dennelind.
Refurbly sells recycled and refurbished mobiles with a two-year warranty. Customers receive mobiles that have been repaired, factory reset, checked and tested according to standardized processes.
In connection with the capital injection, the company is launching a new subscription service. The service is launched together with the mobile operator Verbal.
We are constantly working to develop new systems in telephone reconditioning. Now launching this solution is completely in line with the high environmental goals we set as a country, and the goals we as a company have going forward, says David Lundgren Fetah.
Jonas Lindgren , CEO of Verbal, says that they have developed a concept that is competitive and environmentally smart.
"We think the market needs this," he says.
Refurbly was born in 2019 – when founder Lundgren Fetah was only 21 years old – and has grown explosively in the past year. In 2021, the company had a turnover of SEK 4.6 million, which can be compared with SEK 105,000 the year before. Last year's result landed at -1.6 million kroner.
Several telecom heavyweights have joined the company. Since before, Kenneth Karlberg, one of those who built up Telia Mobile and Halebop, is a board member of Refurbly.
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