CompAsia Company Profile

Background

Mission: To transform smart device ownership by maximizing affordability and minimizing e-waste.

Vision: A cleaner, well-connected tomorrow.

Established in 2012, CompAsia is Southeast Asia's leading device lifecycle company, specializing in the refurbishment and recycling of smartphones, tablets, servers, and computers. With over 2 million devices transacted to date, the company operates in 10 countries and collaborates with more than 50 global partners. CompAsia's efforts have significantly contributed to reducing e-waste, preventing over 2 million devices from ending up in landfills.

Key Strategic Focus

CompAsia's strategic focus centers on enhancing and simplifying solutions that generate value for partners, including telcos, mobile operators, manufacturers, retailers, financial institutions, insurance companies, and consumers across Asia. The company offers a range of services such as device financing, device care, subscription models, buyback and trade-in programs, retail, and distribution buyback. By providing these services, CompAsia aims to make technology more affordable and accessible while promoting sustainability.

Financials and Funding

CompAsia has experienced significant growth since its inception. In August 2023, the company secured $8 million in a Series A funding round, with Gobi Partners as a notable investor. The capital raised is intended to support the company's expansion plans and further development of its services.

Technological Platform and Innovation

CompAsia leverages proprietary technologies and scientific methodologies to refurbish and recycle smart devices, ensuring high-quality standards. The company's innovative approach includes:

• Proprietary Technologies: Advanced refurbishment processes that restore devices to near-original condition.

• Scientific Methods: Utilization of specialized assays and machine learning algorithms to assess device functionality and quality.

These innovations set CompAsia apart in the industry by providing reliable and sustainable device solutions.

Leadership Team

• Julius Lim – Founder & Chief Executive Officer (CEO): Founded CompAsia in 2013, leading it to become a prominent secondary devices solutions provider in Asia. Previously with The Boston Consulting Group, he holds a bachelor's degree in Electrical Engineering and Economics from Johns Hopkins University and an MBA from The Wharton School, University of Pennsylvania.

• George Hashim – Chief Strategy Officer (CSO): Joined CompAsia in early 2018 to oversee strategy and drive business growth. With over 22 years in the telecom industry, he co-founded AmTrust Mobile Solutions Asia and served as CEO of Redtone Pakistan and Redtone Mobile Malaysia. He holds a bachelor's degree in Business Administration from California Lutheran University.

• Kian Leong Yap – Chief Financial Officer (CFO): Joined CompAsia after serving as Executive Vice-President of Finance, Tax, and Treasury at TARH Khazanah, Malaysia. He has held executive roles at the Asian Broadcasting Network and was Head of Finance at Astro. A qualified chartered accountant, he is recognized by ACCA (UK), CIMA (UK), and is a senior member of MIA.

• Laurent De Candido – Chief Operating Officer (COO): With over 22 years of experience in operations and general management across developed and developing markets, he has worked with brands such as P&G, LVMH, and Richemont. He holds a Master's Degree in Mechanical and Industrial Engineering from ENSAM Paris.

• Eu Gene Jiang – Chief Investment Officer: With over 18 years of experience in private equity and investment banking, he has originated and executed numerous M&A, ECM, and DCM transactions across Southeast Asia. His employment history includes Vertex Management, Merrill Lynch Singapore, and Rabobank Singapore. He holds a BSc in Biomedical Engineering and Economics from Johns Hopkins University.

• Henry Ng – Head of Buyback & Trade-In (BBTI): Oversees regional buyback and trade-in matters, partner engagement, strategy planning, and operations. Under his supervision, the business has expanded to over six countries, establishing partnerships with major telcos, device manufacturers, and retailers. He holds a bachelor's degree in marketing from UTAR and an MBA from INTI International University.

• YouWei Tan – Country Head for Singapore: Heads SmartSub, CompAsia’s fast-growing smartphone subscription business. Prior to joining CompAsia, he was in corporate banking for six years, managing key accounts including Government Linked Companies (GLCs) and other large corporates. He holds a bachelor's degree in business from Nanyang Technological University in Singapore.

Competitor Profile

Market Insights and Dynamics:

The refurbished smart device market is experiencing significant growth, driven by increasing consumer demand for affordable technology and environmental sustainability. The global refurbished smartphone market alone is projected to reach substantial figures in the coming years, indicating a robust growth trajectory.

Competitor Analysis:

CompAsia faces competition from several key players in the refurbished device market:

• Reebelo: Founded in 2019, Reebelo is a competitor in the online retail space, offering refurbished devices. It generates approximately $3.2 million more in revenue than CompAsia.

• iPrice: Established in 2014, iPrice operates in the retail industry, providing a platform for various products, including refurbished devices. It generates 250% of CompAsia's revenue.

• Carousell: Founded in 2012, Carousell is a private company based in Singapore, competing in the retail field with a focus on second-hand goods.