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action or later. Please see Debugging in WordPress for more information. (This message was added in version 6.7.0.) in /home4/scienrds/scienceandnerds/wp-includes/functions.php on line 6114Source:https:\/\/techcrunch.com\/2023\/06\/15\/yc-backed-eze-raises-new-capital-for-its-secondhand-electronics-marketplace\/<\/a><\/br> Eze<\/a>, a B2B marketplace that connects global electronic wholesalers allowing them to trade devices in large quantities with real-time market data, has raised $3.7 million in an oversubscribed seed round.\u00a0<\/span><\/p>\n Founded by Joshua Nzewi<\/a> and David Iya<\/a> in 2020, Eze directly connects distributors and retail stores of used smartphones, mostly iPhones, and other electronics, including laptops and tablets, with electronics suppliers, providing access to an extensive inventory from over a hundred wholesalers and manufacturers.<\/span><\/p>\n Shipments of used smartphones will have a compound annual growth rate (CAGR) of 10.3% from 2021 to 2026, reaching $99 billion in value, according<\/a> to tech analyst the <\/span>International Data Corporation (IDC)<\/span>. To place this growth in a smaller context, in 2022, used smartphone shipments of 283 million represented an 11.5% increase over the 253.4 million units shipped the year before \u2014 a<\/span>nd with the growth in shipments of new smartphones taking a blow since the pandemic with factors such as global supply chain issues and consumers\u2019 reduced spending, the used smartphones market is poised for faster growth, per IDC.<\/span><\/p>\n Currently, traders in the B2B space use inefficient means to trade, such as WhatsApp and WeChat, which results in poor distribution, numerous unneeded middlemen, pricing fragmentation, zero quality control, and rampant fraud. \u201cIt\u2019s almost every day we see someone getting scammed in one of these group chats where people are doing business,\u201d CEO Nzewi said on the call. \u201cSo we knew that a product like ours was essential in the market to keep these individuals safe.\u201d<\/span><\/p>\n
\nYC-backed Eze raises new capital for its secondhand electronics marketplace<\/br>
\n2023-06-15 21:45:40<\/br><\/p>\n