March 10 (SeeNews) - Romanian smartphone recycling startup Flip said that its turnover rose threefold year-on-year in 2022 to 36 million euro ($38.1 million).
Last year, the company entered the Bulgarian and Hungarian markets, Flip said in a press release on Thursday.
Flip buys used smartphones from customers, refurbishes them and resells them at competitive prices. In 2022, the company reported that the amount of payments made to smartphone sellers soared 138% year-on-year.
The company's staff rose to 160 people in 2022, from 65 a year earlier. Flip's service space rose to 1,000 sq m in 2022, from 100 sq m the year before.
"We want to keep the innovative character of Flip in the next years, and we are looking at expanding to other markets, but also introducing new product categories on the platform, for circular economy and environmental protection environment to turn from a trend to a habit," said George Moroianu, co-founder of Flip.
In its three years of activity thus far, Flip has offset the equivalent of 3,188 tonnes of CO2, the release further showed.
Flip is a Romanian online marketplace for refurbished mobile phones, established in 2019. In 2021, Flip was acquired by eMAG Group, from which it received financing worth 8 million euro. So far, Flip has served more than 210,000 customers.
($=0.9437 euro)