Eze, a wholesale marketplace for used and new electronics, has secured $3.7 million in seed funding to develop its technology infrastructure, broaden its product offering and expand into new markets in Africa, Europe and South America.
The funding round was led by Right Side Capital Management, with participation from C2 Ventures, Boro Capital, EVPI Investments and other angel investors.
The global market for consumer electronics is projected to grow to reach $1.70 trillion by 2028, driven by rising disposable incomes of consumers, the growing tendency towards digitization and the increasing utility of personal electronic devices such as smartphones, wearables and other devices.
However, the process of buying and selling these devices in wholesale quantities still remains heavily manual, especially in emerging markets.
CEO and co-founder of Eze, Josh Nzewi, in a press statement, made available to LEADERSHIP WEEKEND, said the company’s mission is to power unfettered access to consumer electronics across the world, enabling users to maximise their potential with the experiences provided by these devices.
“We are thrilled to have the support of our investors, and we look forward to using this funding to enhance our platform and provide even more value to our customers. Our goal remains to become the go-to destination for B2B buyers and sellers in the electronics industry, especially in emerging markets, and this investment will help us achieve that goal,” Nzewi averred.
Chris Cunningham of C2 Ventures added that, “we believe that Eze has the potential to revolutionise the wholesale electronics marketplace. Their platform is user-friendly, with integrations that enable an excellent buyer experience. We are excited to support them in their expansion journey.”
