Tech Company of the Week: Eze, B2B Marketplace for New and Used Electronics

Eze is a B2B marketplace for new and used electronics such as smartphones, laptops, wearables, and tablets.

It was founded in 2020 by David Iya and Joshua Nzewi. 

The platform connects telecommunication and global electronic wholesalers, allowing them to trade devices in wholesale quantities with real-time market data and eliminating transaction risk by acting as an intermediary with a secure payment system..

According to the founders, the electronics marketplace is 100% anonymous. Buyers and sellers use it to submit buy and sell requests. It automatically connects the two parties with suitable bids before the trade.

Earlier this year, the YC-backed startup rolled out multi-currency support for Nigerian customers to transact in naira hassle-free. 

It also raised a $3.7 million seed funding round in June 2023 to bolster its technology infrastructure, expand its product offering, and explore new markets.

Meanwhile, in August, the founders hosted a product showcase in an event dubbed “Eze Connect” in Lagos, Nigeria, where they introduced some new services. 

Part of their goal is to regulate trade in areas like Lagos Computer Village, Nigeria’s busiest electronics market by connecting distributors and retail stores to US-based telecom companies and wholesalers of electronics. 

Eze recently launched a FinTech play, “Eze Capital,” which is only available in the U.S. for now. This product will enable businesses to fund their purchases or finance their finance inventory, receivables, and operations. 

It’s worthy of note that the Los Angeles-based startup has sold over 500,000 devices in less than 3 years. More so, it has over 1,000 customers in more than 15 countries globally with Mexico being its largest market and Nigeria, its first market.