Bern – The start-up mobileup has raised fresh capital in the mid-six-figure range in a financing round. The young company plans to use the money from business angels to further develop and publicize its platform for selling refurbished cell phones and tablets.
Bern-based startup mobileup has announced the closing of a mid-six-figure funding round. According to an article by startupticker.ch, mobileup intends to use the money in particular to further develop its algorithm and invest in its marketing in order to raise awareness of its sales platform for refurbished cell phones and tablet computers.
Mobileup has been buying used devices from private individuals, companies and suppliers since mid-2020 and, after reconditioning them, puts them back on sale via its platform. Unlike its competitors, mobileup has access to a large network of suppliers.
Using a specially developed algorithm, mobileup can match search queries with different stock levels. This allows customers to search for specific criteria such as model, color and storage capacity and display the device with the best price-performance ratio.
These search options are reportedly important because “many people have clear ideas about which phone or tablet they want to buy,” Beat Hafner, mobileup co-founder, is quoted as saying in the article. However, if customers cannot find their desired device refurbished, they continue to buy it new. At the same time, the demand for refurbished cell phones is steadily increasing. Meanwhile, old equipment that is still in working order ends up in drawers and does not return to the cycle. ko