Capital injection for French mobile phone collector

France – Now in its second year, Mister Recycle – a French venture to collect, reuse and recycle mobile phones – has raised Euro 1.5 million in funding from two investment firms.

The Paris-based company receives some 80% of its phones via its internet channel as well as from its range of collection points, paying the owner a small fee in exchange. According to CEO Stéphane Roder, the firm achieved a turnover of Euro 2 million in the second half of 2010 and has set itself the target of a Euro 50 million turnover by 2014. ‘Our goal is to be Europe’s leading mobile phone recycling and electronics recycling company,’ says Mr Roder. ‘We recycle the iPod already, and soon the iPad and PC.’

Mister Recycle’s founders Stéphane Roder, Marc Thoumyre and Jean-Benoit Piot still hold the majority stake in the business despite the funds injected by Cape Horn and Promelys Holdings. Employing some 10 people, the firm ‘works with many sub-contractors, such as SBE, one of three major repair firms, based in Boulogne-sur-Mer, which provides sorting, tests and repairs,’ Mr Roder explains. ‘This allows us to focus on marketing, site management and organisation of logistics.’

Mister Recycle wants to move quickly into other markets, first targetting Belgium and Spain for this summer, and then 10 other countries by June next year.