Eze raises $3.7m to revolutionise African electronics market

Eze, the leading B2B wholesale marketplace for used and new electronics, has successfully raised $3.7 million in seed funding to drive its expansion plans in Africa. The funding round, led by Right Side Capital Management, attracted investments from C2 Ventures, Boro Capital, EVPI Investments, and several angel investors who recognise the enormous potential of the African tech and start-up ecosystem.

With the global market for consumer electronics projected to reach $1.70 trillion by 2028, Africa is emerging as a promising frontier for the industry’s growth. The rising disposable incomes of African consumers, coupled with the increasing adoption of personal electronic devices like smartphones, wearables, and tablets, indicate a significant market opportunity.

However, the wholesale electronics sector in Africa has long been burdened by manual processes, inefficiencies, and limited access to affordable products.

Headquartered in Los Angeles, Eze (pronounced as “easy”) aims to revolutionise the wholesale electronics market in Africa by connecting thousands of buyers on the continent to a vast inventory of vetted and tested smartphones, laptops, tablets, and other electronics.

By leveraging its technology infrastructure, Eze empowers buyers to purchase from the world’s largest electronics inventory repository, comprising over 200 000 SKUs available at any given time. Additionally, Eze ensures quick and reliable delivery, with some orders reaching customers as soon as the next day, depending on their location.

One of Eze’s key advantages for African buyers is the ability to make secure payments in their local currency, removing the financial barriers associated with international transactions.

Furthermore, Eze’s commitment to quality is demonstrated through its rigorous seller vetting process and physical inspection of every purchased device. With a defect rate of less than 1 percent, Eze has already gained the trust of loyal customers in more than 50 countries, including Nigeria, where the company has witnessed remarkable success.

“Our 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,” said Josh Nzewi, CEO and co-founder of Eze.

“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.”

The funding received by Eze represents a significant boost to the African tech and start-up ecosystem, highlighting the growing investor interest in the region. Chris Cunningham of C2 Ventures expressed confidence in Eze’s potential to revolutionise the wholesale electronics market in Africa.

“Their platform is user-friendly, with integrations that enable an excellent buyer experience. We are excited to support them in their expansion journey,” said Cunningham.

As Eze leverages its newfound funding to enhance its technology infrastructure and expand its presence across Africa, the wholesale electronics market on the continent can anticipate a transformative shift towards efficiency, affordability, and greater accessibility. For more information about Eze and its services tailored for the African market, please visit https://www.ezewholesale.com/.

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