E3 Capital leads seed round in African re-commerce startup, Badili Africa
In continuing to work towards sustainably bridging Africa’s digital divide, E3 Capital to announce its investment in Badili Africa’s (Badili) Seed funding round.
Badili provides access to top-tier smartphone brands for consumers in Kenya, Uganda and Tanzania, utilising local refurbishment to offer devices at a fraction of the price of new models without compromising quality.
E3 Capital's investment through the E3 Low Carbon Economy Fund (E3 LCEF I) will propel Badili’s expansion into new markets beyond East Africa, enhancing Africa’s digital infrastructure by providing affordable access to consumer devices.
Rishabh Lawania, CEO and Co-Founder of Badili commented, “We are proud to welcome E3 Capital, a seasoned African VC, as the lead investor in our latest seed round. I am excited for the significant impact that this partnership will have on our business as well as the lives of thousands of aspirational African consumers who are looking to buy affordable and environmentally friendly electronics.”
Paras Patel, Managing Partner at E3 Capital added, 'Supporting Badili Africa aligns with our ethos of fostering digital innovation while advocating for environmental sustainability. It's noteworthy that refurbished phones reduce associated CO2eq emissions by 87% compared to new models, underscoring the positive climate impact of Badili's business. In just a short period, we have been impressed by Badili’s ability to scale the business model in Kenya, Uganda and Tanzania, striking partnerships with key stakeholders in the ecosystem.”
Founded in 2021, Badili Africa is a reverse commerce ('re-commerce') company operating in Kenya, Tanzania, and Uganda. Recognising the need to formalise the grey market for refurbished phones in Africa, Badili aggregates, repairs, and reintroduces used or damaged mobile phones to the market through major e-commerce platforms, local trade partners and MNOs.
