Stockholm-based startup Vendy, founded by Max Hasselblatt and Ringo Nurmi, has raised € 1 million to expand its network of automated trade-in kiosks across Europe. Backed by Antler and Bust, along with operators from Voi Technology, Wolt and Swappie, the company’s mission is clear: to solve the supply crisis in refurbished electronics by building the first scalable collection network on the continent.
Europe’s untapped phone treasure
According to the company, across the European Union, more than 700 million unused phones are gathering dust in drawers. Most consumers want to recycle or resell these devices but lack easy access to trusted collection points. Vendy aims to change that by installing automated kiosks in convenient, high-traffic areas. The company’s first 50 units are being deployed this fall in Sweden’s ICA Maxi supermarkets, where they are already breaking collection records.
How Vendy’s kiosks work
At a Vendy kiosk, users simply connect their phone, allowing the system to identify the model and test functionality. The kiosk’s built-in AI then performs a visual inspection to determine cosmetic condition. Within minutes, users receive a confirmed price offer and can choose to sell their device instantly. Payment is made via Swish, Sweden’s popular mobile payment platform, meaning funds arrive within seconds.
A focus on Apple iPhones first
Currently, Vendy only accepts Apple iPhones, but plans to expand support to Android devices in early 2026. The company says this phased approach allows them to perfect their evaluation algorithms and operational processes before scaling to all smartphone brands.
Expanding in a growing kiosk market
Vendy’s approach is reminiscent of US-based ecoATM, which operates nearly 7,000 trade-in kiosks across North America, mainly in large supermarkets such as Walmart and shopping malls. Other European players include Pandas, which focuses on telecom operators and retail partners, and GET-RE, which combines both retail and operator models. Vendy’s strategy, however, leans strongly toward consumer convenience, positioning its kiosks in trusted locations like grocery stores where traffic is consistent and footfall high.
Scaling circularity through convenience
By combining automation, instant payments, and accessible locations, Vendy hopes to unlock the potential of millions of unused devices, driving both consumer engagement and sustainability. “Our goal is to make recycling and reusing electronics as easy as buying them,” said co-founder Max Hasselblatt. With strong investor backing and early traction in Sweden, the company appears well on its way to reshaping the circular tech landscape.
SecondaryMarket.news will continue to follow the trade-in kiosk and terminal market closely, as it represents a promising new way to streamline used device trade-ins. A note of caution, though: while the figure of 700 million unused phones across Europe suggests a massive opportunity, the reality is that many of these devices hold little to no resale value and are suitable only for recycling at a cost. Still, from an environmental standpoint, getting these devices out of drawers and back into the circular system remains an important step forward.
Market
Trade-in
Repair
Refurbishing
