Flipswap, a Los Angeles-based mobile trade-in site, has raised USD14m in Series B funding from NGEN Partners and RRE Ventures.
Founded in 2005, Flipswap operates an exchange for the trade of second-hand mobile phones. Sellers submit details on the model and condition of their handset into a pricing engine which generates a cash offer or store credit. The devices are subsequently distributed to new users. In addition, the company offers to recycle for free any products that are of negligible monetary value.
StrategyEye's related companies: Flipswap, NGEN Partners, RRE Ventures
