# Swappie

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/swappie

- Industry: Retail
- Headquarters: Helsinki, Finland
- Website: www.swappie.com/
- Total disclosed funding: $170M
- Latest round: Series C (Feb 15, 2022)
- Investors on record: 7

## About

Swappie Oy, based in Finland, specializes in refurbishing and selling iPhones, providing a sustainable and cost-effective alternative for consumers seeking quality smartphones.Founded in 2016 in Helsinki, Finland, Swappie Oy focuses on the refurbishment and sale of iPhones. The company has secured a total of 5 deals, with its latest funding round being a Series C completed on May 30, 2024, raising EUR 108.000 mn led by Verdane Capital Advisors. Swappie was co-founded by Jiri Heinonen and Sami Marttinen, who serves as CEO. The company has no reported subsidiaries or major strategic pivots in its operations.Swappie offers a variety of refurbished iPhones that undergo rigorous testing and certification to ensure quality and functionality. Targeting cost-conscious consumers and those concerned about electronic waste, Swappie's products are available across several European markets, including Finland, Sweden, and Germany, catering to the growing demand for affordable and sustainable mobile technology.In the most recent year of 2023, Swappie reported revenues of EUR 224,403,868 with an EBITDA of EUR -16,584,384. The company generates revenue through direct-to-consumer sales of refurbished iPhones via its online platform, offering significant savings compared to new devices.Following its recent deal in May 2024, where Swappie Oy raised EUR 17 million in venture debt funding from the European Investment Bank, the company plans to enhance its research, development, and robotics capabilities to improve iPhone repair efficiency. This strategic focus aims to support its expansion into new markets and strengthen its overall operational capabilities.

## Funding rounds

- Series C, Feb 15, 2022, $123M — Verdane, Tesi, Danske Bank, Inventure, Lifeline Ventures, Reaktor Ventures
- Series B, Jun 16, 2020, $40M — Tesi, Inventure, Lifeline Ventures, Reaktor Ventures
- Series A, May 28, 2019, $5.6M — Inventure, Lifeline Ventures, Reaktor Ventures, Business Finland
- Seed, Jan 15, 2018, $1.1M — Lifeline Ventures, Reaktor Ventures

## Investors

- Lifeline Ventures (https://capitalatlas.ai/funds/lifeline-ventures) — Seed, Series A, Series B, Series C
- Reaktor Ventures — Seed, Series A, Series B, Series C
- Inventure (https://capitalatlas.ai/funds/inventure) — Series A, Series B, Series C
- Business Finland — Series A
- Tesi (https://capitalatlas.ai/funds/tesi) — Series B, Series C
- Verdane (https://capitalatlas.ai/funds/verdane) — Series C
- Danske Bank — Series C