BBVA and Anthemis invest one million euros in Wiserentr’s new electronics rental model

According to a report by the European Economic and Social Committee, smartphones have a lifespan of around four years, but are replaced in less than two years. Only 16% is recycled in Europe. Given this scenario, Wiserentr offers a hybrid model to manage the entire lifecycle of electronic devices – from their production in the factory to their recycling for further use. Their online store rental service is already available on PC components website. It is a more affordable option for consumers and also contributes to recycling and the circular economy.

“Getting the latest technology for much less while helping the environment is the kind of strong value proposition we like to support,” said Christhi Theiss, head of the BBVA Anthemis Venture partnership at BBVA. “Pair that with an execution-focused serial entrepreneur like Carlos Sánchez and a new distribution and business model, and you have exponential growth resulting in a much-desired positive sustainability impact.”

Consumers will have access to high-end technology for a fraction of the cost.

Carlos Sánchez, CEO of Wiserentr, has experience launching disruptive business models in the fintech industry. He was the CEO of Aplazamethe instant financing service for online purchases that integrates with e-commerce platforms as an additional means of payment; ipagoo, which allows users to have checking accounts in different European countries with multiple currencies; and RBC Dexia (currently RBC Investor & Treasury Services), one of the world’s leading providers of investment services, among others.

“Consumers will benefit immensely from being able to access the technology they want for a fraction of the cost and from staying up to date with the latest technology features,” Sánchez explained. “We are excited about the opportunity to bring our service and unique model to market with the support of our investors.”

Wiserentr has already started operations in Spain, through electronics retail giant, PC Componentes. At the moment, more than 100 objects on sale already offer their rental model, mainly smartphones such as Samsung Where Apple. Product categories such as laptops and tablets, among others, will be added in the near future. In the medium term, the startup plans to expand to other European countries such as Portugal, France, Germany and Italy.

The virtuous circle of rental and renovation

Wiserentr integrates its platform with those of e-commerce and telecommunications companies to offer the rental option to their customers for high-end electronic devicessuch as smartphones, laptops, tablets, gaming PCs, etc. Therefore, the user acquires a new product, but instead of paying the full sale price, pays a monthly fee to use it.

This method has many advantages for consumers, as they have access to high-end technology, pay just a fraction price. Instead of paying for the entire useful life of the device, they pay for the usage time, which can be up to 24 months. Additionally, consumers can choose to cancel the lease or purchase the device at any time. It also comes with user support and insurance in the event of damage or theft, and minimizes the impact of technological obsolescence, as it allows consumers to periodically renew their devices. Meanwhile, e-commerce and telecommunications companies increase their sales, because the financial effort required by the consumer is less. They too increase their loyalty ratebecause Wiserentr encourages consumers to renew their contracts with the same companies they signed with the first time.

The Spanish startup is also handling direct-to-consumer distribution in subsequent rentals that have been Renovated after their first use.

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