The investment round, led by Dutch Founders Fund (DFF), known for its investments in early-stage marketplace startups, also included investors such as 212, TechOne VC, Logo Ventures, Maxis, and Arya. The investment, noteworthy for being the largest amount of funding from the Netherlands to Turkey at this scale, also stands out as DFF’s first investment in Turkey. Height Partners provided advisory services to Getmobil during the investment process.
Originally founded in 2018 as a phone repair shop by Mehmet Uygun and Zeynep Uygun, Getmobil evolved into a marketplace platform bringing together small and medium-sized businesses engaged in the sale and purchase of second-hand electronic products with Turkish consumers. The company also operates as a Refurbishment Center under the Refurbished Device Regulation issued by the Ministry of Trade of the Republic of Turkey.
Mehmet Uygun, one of the company’s co-founders, stated, “Thanks to the regulations introduced by the Ministry, the market share of refurbished devices has grown rapidly among second-hand devices. However, compared to other countries, annual sales of refurbished devices in Turkey are still very low. We believe that with the regulatory support from the ministry and the investments made by the private sector, this sector will progress much faster compared to the world.” He added, “Our marketplace platform provides opportunities for both buying and selling for around 35,000 second-hand electronic merchants in our country, contributing to the development and institutionalization of the entire sector.”
Getmobil directly collects used devices from end-users or through trade-in programs with its business partners. Additionally, with the software infrastructure provided by the company, small business partners can professionally evaluate the devices they intend to purchase and proceed with the purchase. After undergoing the refurbishment process at Getmobil’s ministry-approved refurbishment facilities, the devices are made available for sale on getmobil.com and other offline and online platforms.
Circular economy, a strong alternative
Sjoerd Nikkelen, representing DFF, one of the company’s main investors, stated, “Circular economy has emerged as a strong alternative recently, both in terms of reducing environmental damage and increasing accessibility for consumers.” He added, “As DFF, we have observed that companies operating in the circular economy achieve success rapidly in developing markets when they provide the right technological infrastructure. Considering Turkey’s population and economy, there is significant potential in this regard, and Getmobil, with its developed technological infrastructure and its structure that highlights small businesses, has the right strategies to unleash this potential.”
It’s important to remember that every year, 5 billion electronic devices are discarded. Similarly to behavior in other developed and developing countries, consumers in our country are becoming more environmentally conscious, and as a result, used devices emerge as a strong alternative to new devices.
Finally, it’s worth noting that prominent figures who were previously involved in the company’s investment process, such as Nevzat Aydın, Ömer Aras, and Ahmed Karslı, increased their investments in this round. Mandeep Manocha, co-founder of Cashify, a leading company in the industry from India, is also among the new partners of the company.
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