Fairphone aims to raise €1M from crowdfunding: 5 must knows about the sustainable smartphone brand

Fairphone aims to raise €1M from crowdfunding: 5 must knows about the sustainable smartphone brand

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Fairphone, a sustainable Dutch smartphone maker has launched its first crowdfunding campaign recently. The campaign will take place on crowdfunding platform Oneplanetcrowd, which specializes in social entrepreneurship.

Through this campaign, investors will get a chance to become shareholders of the company by investing any amount between €250 to €5,000. The campaign intends to raise €1 million investment with a cap on €2.5 million. Doing so, investors can benefit from the company’s growth. Also, investors will receive a 5% return on an annual basis of their investment. They can convert their investment into shares, thereby becoming shareholders of the company.

Previously, Fairphone raised €6.5 million from investors in 2017. The current investment campaign will be restricted to the Fairphone community members until raising €1 million. Later, the campaign will be made public for a few days. Those interested can sign up to get notified when the campaign is public.

The Amsterdam-based startup started in 2010 to raise awareness of conflict minerals such as tin and tantalum essential for smartphones and other electronics devices to work. Soon, the company wanted to bring a drastic change in the smartphone market.

Here, we have come up with facts you need to know about the sustainable smartphone brand. Do give it a read.

#1 Positive environmental impact

Fairphone aims to create a positive environmental impact to bring fair trade to the smartphone industry. The company wants its customers to use a smartphone with the fairest components made under the best possible conditions. Fairphone is setting a new standard in the smartphone industry. This is possible with its modular smartphone, integration of Fairtrade gold in its supply chain and sourcing materials from conflict-free sources.

#2 Long lasting design for longer use

Fairphone claims to design sustainable and long-lasting products. Fairphone devices are made using ethically sourced minerals and are modular in nature. When consumer electronics are viewed as semi-disposable objects, this brand lets consumers use its smartphones for a longer time by letting them modify their devices. This is possible with the modular design, which lets them change the design as per the trend.

#3 Easy to repair phones

In addition to a long lasting design, the modular phones make it easier for users to get their phones repaired. For instance, if there is any component, which needs to be repaired, users can get the specific part replaced as it is easy to repair. The modular build paves way for easy repairability. Users can clip off the casing and separate it from the motherboard and display components. Usually, display and battery are prone to get damaged easily and these can be replaced in a simpler way.

#4 Offers good working conditions

Sustainability isn’t only with the parts used to make these smartphones but also in terms of the factories and working conditions. The Netherlands company believes that long-term relationships lay the foundation for good working conditions. The company works with suppliers and resolves underlying issues to move towards improvement.

#5 A circular approach

Fairphone focuses on a circular economy. The brand uses the resources smartly in every part of the phone’s lifecycle. More than being easy to repair, this approach helps Fairphone reuse and recycle the devices. The company offers a take back program and implements the best recycling methods. This helps the company reduce electronic waste and reuse the valuable materials.

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