Each year in Denmark, over 2 million people upgrade their smartphones, but few have a clear idea of what to do with their previous device. Of course, they could sell it or trade it in, but today these options are primarily perceived as a hassle, a scam, or a waste of time. This results in Danes often having two or more smartphones wasting in a dusty drawer. Our mission to reduce this waste and to make the best use of their potential by providing a transparent, fair, and simple way to ensure that our old technology gets used to its fullest extent. The user can then support sustainable causes through our platform with the value of their used phones.
Used phones are extremely valuable. In fact, every year we estimate that at least one billion kroner worth of used phones enters the market in Denmark alone. On top of this, smartphone production has tremendous environmental and social impacts that are seldom talked about. Making best use of minerals and labour that have already been put into our phones is the least we can do.
Through research, we found that most people do not sell or trade-in their devices today for various reasons. However, over 90% of people responded that they would donate the value that their used phone could be sold for, entirely or in part, to philanthropic causes so long as it was easy and transparent. Therefore, not only are the causes we support genuinely good, but they provide the motivation to awaken a large and growing market.
Today there is no platform where this can easily be done. Worthmore aims to fill this gap in the market and be the platform where people and businesses can easily donate all or part of the value of their used technology to support sustainable actions we all want to see more of.
The used phones we receive are safely wiped, complying with Europe’s General Data Protection Regulation (GDPR). They then have a 92% chance to be refurbished or harvested for working components. The refurbished phones are sold in markets across the world to be loved by a future user. The phones that cannot be refurbished are responsibly recycled, making sure to reuse minerals that are otherwise impactful to mine.
As a company, we focus heavily on integrating the Nordic values of transparency, honesty, community, and simplicity into our mission. This is not typical of our competitors in this space.
By being active in carrying out the sustainable causes with our partners, and showing our users instantly how their device could support them, we believe we can help make the best use of our used smartphones while spreading the love.
We are currently headquartered in Copenhagen and operate within Denmark, w here there is a strong aspiration for sustainability and other Nordic values. We believe it makes the most sense to first scale our business to surrounding countries, which share such values. Once achieving a more well-known status, we intend to expand to other European countries and to the US, where nearly 40% of consumers keep used phones because they don’t know what to do with it. These geographical market expansion projections are very promising and we are excited to embark on this journey.
In addition, although we currently only work with smartphones, we have assessed a strong potential of accepting other types of used technology in our platforms (e.g. tablets, laptops, among others). Our current partnerships allow for this change if it makes sense to be adopted in the future. This would enhance both our revenue and our impact, allowing a major market expansion.
We will use 100% of the funds from GreenFunder to match the donations we get through our platform. This will double our impact on our sustainability-centred causes. Through accomplishing more sustainability-centred activities, we will also have more material for sharing what we do, raising awareness about our concept and expanding our audience.
The information in this Listing comes directly from the Project Creator. GreenFunder does not substantially alter the information provided. GreenFunder, Inc. has not independently vetted the information contained herein and does not provide any warranties regarding the accuracy and completeness of the information contained in this Listing.