Swappie raised EUR 890k in capital investment from Reaktor and Lifeline, wants to expand its used iphone marketplace across the Nordics.

Finland Investments 15 January 2018
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Swappie, a Helsinki, Finland-based company operating a marketplace for refurbished smartphones, secured EUR 890k ($1M) in capital investemnet.

The backers include Finnish venture capital companies Lifeline Ventures and Reaktor Ventures and the money will be used to expand operations in other Nordic countries in 2018.

Swappie, founded in 2017 by Jiri Heinonen and Sami Marttinen, developed a marketplace for selling and purchasing a used phone. On top of that, the company also renovates the phones and grants a service to the telephone service. In the first operating year, Swappie serviced about 2000 phones and transacted about EUR 1M on its marketplace.