Finland’s Startup Nordic Mobile Trust has announced its partnership with Marubeni Corporation, one of Japan’s largest retailers. Last year, Business Finland granted a loan to the company which led them to this partnership. To enhance the C2C market for second hand-devices in Japan, Marubeni has invested in Espoo-based startup’s eco-friendly platform which allows consumers to buy and sell used mobile phones. In this way, the startup will be able to race to the top in terms of reused mobile devices on a global base.
Marubeni and Nordic Mobile Trust announce strategic partnership for expansion
The market of used smartphones is expanding rapidly due to the growing interest in the circular economy. The worldwide shipment of used smartphone is expected to increase from approximately 220 million units in 2020 to approximately 350 million units in 2024. In addition, reusing used smartphones leads to the reduction of production of new devices which reduces further greenhouse gases.
The uus.io trading platform is globally scalable and the team is looking to take the platform worldwide. Uus.io’s mission is to disrupt the trade-in market by providing a platform that enables an easy, eco-friendly, and sustainable way for consumers and companies to sell and buy used mobile devices through AI-based market value calculation and automatic device recognition.
By investing to NMT, Marubeni intends to develop the C2C market for used smartphones, both in and outside of Japan. And through the partnership with Marubeni, NMT will have the necessary support in becoming a global leading mobile device marketplace.
The partnership also helps the companies to contribute together to the development of the circular economy.
Business Finland granted an R&D loan for NMT in June of 2021. An early-stage loan from Business Finland was crucial for NMT – enabling them to get the software to the next level.
“Circular economy solutions are needed to safeguard biodiversity and to solve the climate crisis” says Jyri Roselius, CEO & Co-Founder of Nordic Mobile Trust Oy. “This early-stage loan was crucial for our company and enabled us to get the software to the level that we were able to start the conversation with Marubeni Corporation”
“Marubeni is delighted to announce the investment into Nordic Mobile Trust Ltd. (NMT). With NMT’s members, technology and know-how, Marubeni is planning to expand its ICT business in the C2C market through NMT’s sustainable and eco-friendly platform. Marubeni aims to contribute to the development of the circular economy through this investment”, says Masamichi Morita, General Manager, ICT Business Dept. II, Marubeni Corporation.
“This is our great honor and pleasure to partner with Nordic Mobile Trust Ltd. and we greatly appreciate the collaboration with Business Finland. This is our very first investment since the re-establishment of our Helsinki Office in April 2020. With this investment we are happy to contribute to the development of circular economy together with our strong business partners”, says Takao Fukuoka, General Manager, Helsinki Office & Tallinn Office, Marubeni Corporation, responsible for Nordics and Baltics.
With NMT’s members, technology and know-how, Marubeni is planning to expand its ICT business and to contribute to the development of sustainability.
Business Finland is strongly involved in financing Finnish startups that are seeking international growth.
“NMT Ltd. has been able to develop and commercialize their concept with the help of Business Finland funding exceptionally fast, and convince a major international partner, Marubeni Corporation. NMT is an insightful example of scaling in the circular economy for consumers. As part of Business Finland, Invest in Finland has been pleased to provide Marubeni with advisory services in the process”, says Helvi Väisänen, Senior Advisor at Invest in Finland.
About Nordic Mobile Trust
Nordic Mobile Trust is a privately owned Finnish company that is developing a unique C2C market platform and unique universal pricing engine for trusted mobile device sales. Nordic Mobile Trust is building a better future for second hand mobile devices.
Marubeni Corporation and its consolidated subsidiaries use their broad business networks, both within Japan and overseas, to conduct importing and exporting (including third country trading), as well as domestic business, encompassing a diverse range of business activities across wide-ranging fields including lifestyle, ICT business & logistics, food, agri business, forest products, chemicals, metals & mineral resources, energy, power, infrastructure project, aerospace & ship, finance, leasing & real estate business, construction, industrial machinery & mobility, next generation business development and next generation corporate development. Additionally, the Marubeni Group offers a variety of services, makes internal and external investments, and is involved in resource development throughout all of the above industries.
About Business Finland
Business Finland is a Finnish public actor that provides innovation financing and internationalization services and promotes tourism and investment in Finland. The organization employs 750 experts in about 40 locations worldwide and 16 locations in Finland. Business Finland is part of the Team Finland network.