- Founded in 2016, Swappie is the leading and rapidly expanding Pan European recommerce platform for iPhones
- By refurbishing iPhones to the highest standards using the latest technology and a unique data-driven process, Swappie is reducing environmental waste whilst meeting the surging demand for affordable and environmentally friendly smartphone offerings
- Headquartered in Helsinki, Swappie operates its own refurbishment factory in the Nordics and sells directly to consumers in Finland, Sweden, Italy and Denmark via its online store
- Finish Industry Investment (Tesi) is a Finish investment company investing in venture and growth capital and private equity
- Other recent investments include Upcloud, focusing on cloud servers, BC Platforms, offering genomic data management solutions, and Verto Analytics, a consumer measurement solution
- Existing investors Lifeline Ventures, Inventure, Reaktor Ventures and Telia also participated in the round
- The capital will support the Company’s next growth phase through:
- Driving rapid expansion across Europe, starting with launches in Germany, Ireland, Portugal and the Netherlands
- Setting up a additional refurbishment facilities in Europe
- Support working capital
- Introduction to the shareholder base of a well-known and long-term provider of (strategic) capital
- Arma Partners served as exclusive financial advisor to Swappie on the transaction
- The transaction underlines our position as a market-leading advisor on private capital funding mandates to clients across Europe, utilising our strong connectivity across the full breadth of relevant investor categories globally
- Highlights our deep sector expertise in digital platforms and excellent footprint in the Nordic countries (following transactions for Wolt and EcoOnline)
- Underscores our desire to act at the forefront of the international cross roads of ESG and technology