Redeem announces first consumer airtime package, strong numbers, and move into France

Update on progress as Mobile World Congress begins

Redeem, the leading mobile industry services company, is delighted to announce a number of strongly positive developments for the business ahead of the senior team’s visit to Barcelona for Mobile World Congress later this month. Redeem provides mobile handset take-back solutions for European MNOs, buys and sells pre-owned devices to consumers via its online Envirofone Shop, and is utilising its unique database of mobile handset values to support viable handset leasing offers. After a strategic refresh, Redeem will be building on its strong understanding of what makes consumers bring their handsets back to the point of sale for trade-in, whether that be in-store or online.

-    Partnership with Anywhere Sim – Redeem will, from March, sell multi-network roaming sim cards to consumers via its Envirofone Shop, in partnership with Anywhere Sim. Anywhere Sim’s multiple network agreements make this service possible and will allow Envirofone customers to make and receive calls on any UK network, providing the most comprehensive mobile coverage available

-    Launch of France operations – Redeem is currently in the early stages of setting up operations in France, where an office is being established. Launch of a France-facing version of the Envirofone website is planned for the coming months, while further developments are underway which will see Redeem build a strong base for growing the business in France and Central Europe, as it looks to expand further its international operations.

-    Redeem Financial Services – Redeem’s unique database of pre-owned phone values allows it to predict accurately the future value of mobile handsets. Redeem is using this data to support handset leasing propositions and is in discussions with MNOs, manufacturers and corporate customers

   Boost from iPhone 7 launch – Redeem saw a 15% jump in the numbers of mobile handsets received for trade-in during the 3-month period following the launch of the iPhone 7 in September 2016, compared to the same period in 2015. Over €30 million was paid out to customers over the period, the majority of which was in exchange for pre-owned iPhones

-    Envirofone Shop growth – Consumers can now buy pre-owned phones on the Envirofone Shop website, as well as selling them. The Envirofone Shop began offering phones for sale in June 2015 and this business is thriving, as is the Envirofone Shop’s business taking phones back from consumers. Between 2005 and 2015, over £158 million was returned via Envirofone to more than 4 million customers in Europe for their pre-owned mobile phones and tablets

Paul Adams, CEO of Redeem Group, said: “We’re moving into an exciting new phase as a company. The pre-owned handset market is growing rapidly, and Redeem is at the forefront of that. We’re helping MNOs with their handset take-back programme in ever-more nuanced ways – for instance designing and running marketing campaigns, setting up the relevant websites and digital platforms, and creating new diagnostic technologies for use in-store or elsewhere. Also, our detailed, up-to-date bank of handset price data makes us perfectly positioned to support the handset leasing offers which the market is expecting.”

“We’ve recently undertaken a strategic refresh. Our thinking is that our understanding of consumers is a real strength – we know what makes consumers bring their used mobile back to a point of sale for trade-in, whether that’s in-store or online. We’re going to build on that strength.”

Founded in 2011, Redeem Group has since grown revenues to £80 million, and has significantly expanded its international footprint, tripled headcount and completed five acquisitions over the same period. The company operates in 32 countries across three continents, with 69% of sales now coming from outside the United Kingdom, and regional offices in the UK, Spain, Sweden, Estonia, Austria, Hong King and Dubai. Clients include Three, Tele2, Telenor, TeliaSonera, Bell Canada, Vodafone, Telefonica and Cell C. Redeem Group handles over 1.8 million devices and pays out more than £62 million to customers every year.

The Redeem senior team will be attending Mobile World Congress in Barcelona, and can be found at the executive meeting room on Stand 2B8.