Can you share the origins of Clevercel and how the business has evolved?

After 25 years in telecommunications, including leading a mobile carrier in Colombia through the country's first 4G auction, I saw a fundamental problem: smartphones unlock economic opportunity, yet in Latin America, a flagship device can cost several months of minimum wage. Meanwhile, millions of functional phones end up as e-waste every year. Clevercel was founded to solve both problems at once. We offer certified pre-owned smartphones at 40 to 50% below new prices, backed by a 12-month warranty and 30-day satisfaction guarantee. The name captures it: be clever about saving money, be clever about saving the planet.

Six years in, we've sold over 320,000 devices across Mexico, Colombia, and Peru. Our trade-in software runs in more than 2,500 retail stores operated by partners like América Móvil, AT&T, Apple, and Samsung, creating a circular flow where devices return to us, get certified, and reach new owners. Today we're a team of 60, with physical stores in Bogotá and a digital infrastructure built to scale.

How does your telecom background help Clevercel navigate regulatory and financial challenges across the region?

Running a carrier taught me that more than 75% of internet access in Latin America happens through smartphones. That makes the second-hand market a matter of economic inclusion, not just commerce. It also taught me how regulation shapes markets. Take Colombia's VAT exemption for lower-priced smartphones, that policy directly expanded access. But we still need regulation that encourages a legal second-hand market, particularly around device theft, which remains one of the industry's biggest challenges. The automobile sector evolved this way; mobile devices can too.

On the financing side, sustainability-focused investors have been receptive to our model. When you can demonstrate environmental impact alongside commercial viability, funding conversations become easier.

What is Clevercel's current market position, and where do you see the biggest opportunities for expansion?

Among specialised second-hand e-commerce players, setting aside horizontal giants like Amazon and Mercado Libre, we hold roughly 25% market share. Mexico is our largest market today, followed by Colombia and Peru. Together, these countries represent about 35% of Latin America's addressable market.

Brazil is the clear next step. It has the region's most developed second-hand market, strong e-commerce adoption, and rapid growth in buy-now-pay-later, which is critical for making refurbished devices accessible to more consumers.

Which markets are most strategic for Clevercel, and how do you expect that to evolve?

Mexico and Brazil together represent over 75 million devices sold annually and a combined population approaching 350 million. Both have mature e-commerce ecosystems and fast-growing buy-now-pay-later segments. These are the markets where scale is possible, and where we're focusing our energy.

How does Clevercel's trade-in platform work in practice?

We've built a hybrid system combining third-party tools with proprietary technology. The key innovation is using AI-assisted grading to reduce subjectivity, when a store associate evaluates a phone, the system guides them through a standardised process that produces consistent results across all 2, 500 connected retail locations. This consistency matters because it builds trust on both ends: customers know they'll get a fair trade-in value, and we know we're acquiring inventory we can confidently certify and resell.

Is Clevercel primarily a direct-to-consumer business, or do you work through partners?

Today we're focused on direct-to-consumer, both through our own e-commerce platform and via partner marketplaces. But the roadmap includes carrier partnerships, imagine Clevercel-certified devices sold through major telcos, and a direct-to-business offering targeting small and medium enterprises. SMEs face the same affordability challenges as consumers, often with tighter budgets and a growing interest in sustainable procurement.

What brands and product categories drive your sales?

We carry Apple, Samsung, Xiaomi, Huawei, Oppo, and other leading brands, but the mix varies by country. In Mexico, Apple represents over 85% of our portfolio. In Colombia, it's closer to 50-50 between Apple and Android. Smartphones account for 75 to 80% of sales everywhere, followed by tablets and watches. What's striking is that Apple holds over 50% share in the second-hand market, nearly five times its share in new device sales. That gap reflects the aspirational value of the brand: people who couldn't afford a new iPhone can access one through us.

Can you walk us through your processing and grading operations?

Currently, we certify rather than refurbish, all devices we sell are fully functional, graded by cosmetic condition. We use PhoneCheck for diagnostics and data wiping. Refurbishment capabilities are on our 2026 roadmap, which will allow us to capture value from devices that today fall outside our certification standards.

Who is the typical Clevercel customer?

Our core customer is someone who has done the maths: they want quality and protection, not just the lowest price. About 60% are male, and over 60% are between 18 and 34. More than 62% finance their purchase, either through buy-now-pay-later partners like Kueski and Addi or through interest-free instalments via PayPal and Mercado Pago. When we survey customers, three factors consistently drive their decision: the savings versus new, the ability to access premium devices they otherwise couldn't afford, and trust that we'll stand behind the product.

How do you attract and retain customers in such competitive markets?

Refurbished in Latin America is a trust product, not just a price product. Everything we do ladders up to that insight. On acquisition, paid social and search work because customers often arrive with intent, they're already searching for 'iPhone with warranty.' We retarget the hesitant ones with educational content: grading standards, battery health, data security. In Mexico, marketplaces like Walmart, Elektra, and Coppel give us credibility with first-time buyers who later purchase directly. On retention, the warranty experience is our best marketing. Our process is simple: most claims result in a fast exchange rather than a slow repair, because time without a phone is the real pain point. That approach pays off, 25% of customers come through referrals, and nearly 30% are repeat buyers. We're also relentlessly transparent: published grading criteria, battery thresholds, test checklists, customer reviews with photos. In a market where used phones can feel risky, 'certified data wipe' isn't a feature, it's a prerequisite for trust.

Who are your main competitors, and how does the landscape vary by market maturity?

We compete across five categories: horizontal marketplaces like Amazon and Mercado Libre, where refurbished is just one category and peer-to-peer sales carry inherent uncertainty; large retailers like Falabella and Coppel, which offer financing and bundles; informal peer-to-peer channels like Facebook Marketplace; grey and black markets selling through small retailers without warranties; and specialised refurbished players like Trocafone in Brazil and Reuse in Chile. The competitive strategy depends on market maturity. In mature markets, we win on brand and reliability, everyone has options, so reputation matters. In earlier-stage markets, we win by formalising trust: warranty, trial period, and professional support that informal sellers simply cannot match.

You're exploring Device as a Service. What problem does that model solve?

Today's cycle is broken. A consumer takes out a loan to buy a phone, sells it a year or two later to fund the next one, takes another loan, and repeats. It's a perpetual debt loop with constant friction. Device as a Service breaks that cycle. The customer pays a monthly subscription, fully insured, annual upgrade included. When they return the device, we refurbish it and assign it to a lower tier. One asset generates revenue across multiple cycles instead of being monetised once and discarded. The timing is right because the enablers are falling into place: buy-now-pay-later is scaling rapidly, and trade-in volumes are growing. OEMs have launched residual value programmes, but those target the high end. We see an opportunity to bring flexibility and affordability to a much broader segment.

What's your timeline and target for the Device as a Service launch?

We're targeting the second half of 2026, starting in Mexico and Colombia. Those markets see over 45 million device sales annually. Our goal is to capture roughly one% of enrolments within two years, which would represent about 15% of the second-hand device market.

What growth do you expect over the next several years?

We are targeting revenues in excess of US$100 million by 2028. Achieving this will require consolidation with complementary players to strengthen our footprint in Mexico and Colombia, followed by expansion into Brazil, our largest addressable market. Device as a Service will be a key growth engine, underpinned by strategic partnerships in buy-now-pay-later and insurance. To support this next phase of expansion, the company is actively seeking new investment partners.

What does an ideal investor look like for Clevercel?

We need partners, not just capital. The ideal investor brings operational expertise in e-commerce, retail, buy-now-pay-later, or insurance, the four levers that will define our ability to scale. Strategic alignment matters more than the cheque size. So, if there are any European marketplaces interested to invest in the next growth market and expand into Latin America, please do not hesitate to contact us.