Badili.Africa Secures $400K in Bridge Funding from Proparco

In an exciting development for the African recommerce sector, Badili.Africa, based in Nairobi, has successfully secured $400,000 in bridge financing from Proparco, a development finance institution backed by the French Development Agency. Established in 2021, Badili specializes in buying, refurbishing, and reselling secondhand smartphones in Kenya, Uganda, and Tanzania, with each device guaranteed a 12-month warranty. This funding injection is seen as a crucial step as the company embarks on its next phase of profitability and geographic expansion across Africa. According to Badili's CEO Rishabh Lawania, the involvement of Proparco, known for its progressive approach to development finance, adds significant validation to Badili's mission. The bridge loan carries a tenure of 24 months, as reported by WeeTracker. This round of funding complements the $4.1 million already raised in Badili's pre-seed and seed funding rounds. The company anticipates further fundraising in the coming year. Proparco's support is regarded as a testament to Badili's sustainable business model, which aims to make smartphone ownership more accessible across the continent through a cost-effective, recommerce platform.