Fixably has successfully secured $10 million in funding and is launching Fixably Refurb, a software solution aimed at helping recommerce businesses boost profitability. The funding round included global investors 468 Capital, Cusp Capital, icebreaker.vc, and Business Finland.
The used smartphone market is projected to grow from $66.8 billion in 2023 to $143.8 billion in 2031, a significant opportunity in the recommerce sector.
Fixably Refurb
Fixably Refurb is the next step towards the company’s ultimate goal in creating a leading global after-sales platform.
The software addresses the challenges faced by recommerce companies, including sourcing, price management, reporting, grading, and the ability to scale their business.
Billions of dollars worth of transactions are run on spreadsheets, simple in-house solutions, or poorly-configured ERP systems.
By enabling data-driven re-commerce operations, Fixably Refurb adds substantial value to the circular economy of consumer electronics.
Future development will include wholesale sourcing widgets, e-commerce & marketplace integrations for sales, diagnostics tools, dynamic pricing management, and advanced reporting and analytics.
Fixably Repair, the company's first Saas product, is a repair workflow management solution that encourages repairability and enables after-sales business to maximize profitability through efficiency gains, process automation and actionable data. The solution serves its primary markets in North America, South America, Europe, and Australia.
Fixably Refurb will benefit greatly from the existing service capacity of the Fixably Repair network in over 35 countries, supported by Fixably's diverse international team representing 20 different nationalities.
A Brief Overview of Fixably's Timeline
2010: Joel Mansnerus, an electronics repair enthusiast, establishes a service business focussed on Apple devices and scales the business with a custom in-house solution.
2014: The business outgrows both in-house and commercially available repair management options. Everything points to a market vacuum for a platform designed to manage repairs.
2015: The initial version of Fixably Repair is built and designed to fill this gap. The early Fixably team bootstraps the business for the first few years.
2020: Fixably accepts funding for the first time for go-to-market motion. Venture capital firm icebreaker.vc leads a pre-seed round accompanied by government incubator funding.
2022-2023: Having expanded to four continents, Fixably secures its second round of funding, totaling $10 million.
June 2023: The company launches Fixably Refurb, a re-commerce management platform and their second solution available globally.
