Brick is delighted to announce that it has started 2022 on a very successful note after attracting new investments that will help it expand its power bank sharing solution to more countries. In 2021, Brick expanded to all continents and is now established in Peru, Turkey, Poland, Panama, Nigeria, Australia, and Canada, as well as in Sweden, Germany, and the Caucasus.
The startup’s broad expansion was possible thanks to its new business model that lets it operate as a SaaS company.
“Brick entering the international market has always been a given for us. With the business model we have built up, where local entrepreneurs around the world can start-up operations in new markets, we have been able to expand in a much more efficient way. With the investment we have now received, we want to establish Brick in even more countries.” – Emil Esselin, CEO and founder of Brick.
According to the company, the fast-paced expansion that has put it on the map in every continent confirmed the viability of its new business model, and in autumn the startup began an investment round to further aid its growth and development into new markets.
The investment round led by the well-known entrepreneur Christer Fåhraeus, and his fund Fåhraeus Startup and Growth, saw the Swedish startup raise a total of €1.7 million in funding. Other investors who also participated in the funding round include the reputed Storytel investor Filip Larsson and Fast Track Malmö.
“Brick is in a new but incredibly hot market. In China, the mobile charging companies have already gained a foothold and we consider the conditions good for high growth for the rest of the world where Brick operates. We see Brick as one of the best European companies in the industry with a strong team and a strategically smart business model.” Christer Fåhraeus from FSG Fåhraeus Startup and Growth.
Brick is a Stockholm-based startup that takes mobile charging into the era of the sharing economy. The Brick app allows the user to charge wherever and whenever they want. Using the app, a user can rent a power bank at one of Brick’s hundreds of stations around the world, and then return it to whichever Brick station they want. Brick’s portable charger works for several different sockets and can be used for, for example, telephone, tablet, and headphones. As a SaaS company, Brick describes itself as the best possible foundation upon which businesses can start their sharing technology service.
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