funding press release 1

Pandas ushers the next generation of mobile trade-ins, backed by the first industry pioneers

According to Statista, an estimated 1.39 billion new smartphones were bought in 2022 worldwide. When the time comes for these devices to be replaced, effective trade-in programs will be essential to save most of them from becoming e-waste. However, current trade-in methods often fall short in terms of efficiency, room for profit margins, and user experience. That’s where our technology comes in.

Pandas has developed an innovative Trade-in as a Service (TaaS) platform that redefines how a reverse retail program works. Our solution is fast, accurate, and intuitive, all while promoting a more circular economy, making it a game-changer for businesses, consumers, and the environment.

A team of industry experts paving the way

Pandas is backed by a team of industry veterans who have played a pivotal role in shaping the mobile trade-in landscape. This impressive group brings a wealth of experience and expertise to the table, ensuring that Pandas is the innovative, next-generation leader.

Marcelo Claure, founded and led Brightstar, now known as Likewize, a multi-billion dollar mobile distribution and logistics company that became one of the leading global smartphone buyback companies. Brightstar was instrumental in launching and driving the first trade-in programs at Verizon and AT&T over a decade ago. Later, it managed buyback programs for Sprint and Apple, among many other companies. 

DST Global has one of the strongest track records in the VC world of investing in companies that grow to multi-billion dollar firms, like Facebook, Twitter and Airbnb. 

Marni Walden, with more than 20 years of experience in the wireless industry with stints at AT&T and Verizon, is also an early investor and a member of the Board of Directors.

Latsis Group is a multi-billion investor, active across multiple sectors including fintech and shipping and with strategic investments in Sporos Platform and 5G Ventures/Phaistos Investment Fund. Sporos Platform serves as the first Circular Economy Impact Investing Fund in Southeastern Europe, fostering the circular transition of regional SMEs. The 5G Ventures/Phaistos Investment Fund focuses on businesses involved in cutting-edge technologies.

Additionally, Pandas is proud to have secured the backing of a select group of angel investors, including Lauren Bowden (partner at 83 North), Paolo Dal Pino (Ex-CEO at Telecom Italia), Alex Vratskides (CEO at Persado), David Stritzinger (Ex-CEO at Flipwsap, ex-President at Consensus and Ex-CTO at Brightstar), Rafael Coste Campos (Director at Bain Capital), Elias Korosis (Partner at Hermes GRE), and Ken Campbell, Alain Adam, and Naaman Zorub (Co-Founders at Mobile Klink). Their backing and invaluable expertise and experience reinforce Pandas’ mission to transform the trade-in landscape.

With the support of these industry veterans, Pandas’ platform addresses the shortcomings of traditional trade-in methods, providing a user journey is simple and easy to follow, lasting only a few minutes, as well as with unmatched accuracy in grading and price quotes. The value for both businesses and consumers is truly great.

  • Omni-channel smartphone grading: Customers can grade and trade-in their devices in-store or remotely, using Pandas’ intuitive Web Grading App or its powerful Pandas Flex machine.
  • A-level grading accuracy: Pandas’ proprietary technology and hybrid AI-human grading system ensure high-accuracy grading, resulting in top-tier trade-in offers for customers and a healthier bottom line for partners.
  • Streamlined buyback experience: The entire buyback process is designed to be simple, fast, and intuitive, increasing conversion rates and customer loyalty.
  • Powerful back-office management system: Partners gain access to a suite of cutting-edge tools with Pandas One+ for reporting, monitoring, marketing, and pricing, enabling them to optimize their trade-in programs.
  • Sustainability-focused approach: Pandas’ technology helps partners achieve their net-zero CO2 goals faster, while also contributing to a more circular economy by reducing e-waste.

With our innovative TaaS platform and experienced team, Pandas is committed to revolutionizing the mobile trade-in industry. Our mission is crystal clear — to help businesses achieve 1-for-1 circularity in mobile devices. We believe that is the future of mobile trade-in;  an experience that prioritizes both customer satisfaction and sustainability, benefiting businesses, consumers, and the environment. 

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