Wholesale marketplace Eze has successfully secured $3.7 million in seed funding to fuel its global expansion plans. The funding will play a crucial role in the development of Eze's technology infrastructure, the diversification of its product offerings, and the exploration of new markets across Africa, Europe, and South America. The funding round was led by Right Side Capital Management, a prominent investment firm, with notable participation from C2 Ventures, Boro Capital, EVPI Investments, and several angel investors.
Josh Nzewi, CEO and co-founder of Eze, expressed great enthusiasm about the investment, highlighting the company's mission to provide unrestricted access to consumer electronics worldwide. Nzewi emphasized the significance of the funding for further enhancing the Eze platform and delivering increased value to its customers. The ultimate objective is for Eze to establish itself as the go-to B2B destination for buyers and sellers in the electronics industry, particularly in emerging markets, and the recent funding injection will contribute significantly to achieving this goal.
Eze operates as a leading B2B wholesale marketplace, specializing in the trade of smartphones, laptops, tablets, and other electronic devices. With its intuitive and user-friendly platform, Eze seamlessly connects a vast network of global buyers to over 200,000 thoroughly vetted and tested SKUs, simplifying the purchasing process with just a few clicks.
Buyers leveraging Eze's platform enjoy access to unparalleled wholesale prices, transparent product quality grading, the convenience of local currency payment options, extended warranties, and a range of other services designed to facilitate effective and efficient trading. Simultaneously, sellers benefit from an expansive international network of qualified buyers and supplementary support services to enhance sales and business growth.
The consumer electronics market is predicted to reach a staggering $1.70 trillion by 2028, driven by factors such as increasing disposable incomes, the ongoing digitization wave, and the growing demand for personal electronic devices like smartphones and wearables. However, the wholesale transactions within this industry, particularly in emerging markets, often involve manual processes, resulting in inefficiencies and increased costs for buyers that ultimately trickle down to consumers. Eze aims to address these challenges head-on.
Headquartered in Los Angeles, California, Eze (pronounced "Easy") acts as the gateway for buyers worldwide to access an extensive selection of both used and new smartphones, laptops, tablets, and other electronic devices. With the largest electronics inventory repository globally, Eze offers over 200,000 SKUs available for purchase, ensuring prompt delivery, sometimes as fast as the next day, depending on the buyer's location.
Furthermore, Eze facilitates secure payment options in the buyer's local currency, simplifying the purchasing process even further. To ensure quality and customer satisfaction, Eze diligently vets sellers and conducts physical inspections on each device before shipping to guarantee optimal functionality and adherence to stringent quality standards. With a remarkable defect rate of less than 1 percent, Eze has successfully cultivated a loyal customer base spanning over 50 countries, including the United States, the United Kingdom, Nigeria, Mexico, Ukraine, and the United Arab Emirates, having sold more than 500,000 devices.
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