"Start Making money from you waste with Bekia - Separate Your home waste and start making money now."
Company Description
Bekia is a tech-enabled waste collection solution enabling companies and households to exchange their waste (plastic, paper, electronics, metals, cooking oil) against a financial incentive paid on a digital wallet.
Vision of Bekia
Bekia's vision is to lead the transformation of waste into wealth and to redefine waste management as a sustainable and responsible practice. They envision a future where financial empowerment, environmental stewardship, and responsible waste management are inextricably linked, contributing to a cleaner and more sustainable world.
The Solution
Bekia offers users (households) a way to monetise (on a digital cash wallet) their waste while being able to dispose of it in a safe and environmentally responsible manner.
People can select among 400+ different types of valuable waste. They can then see the proposed value based on weight, Bekia then collects the waste (through network of collectors) and rewards them with cash on the Bekia e-wallet (connected with CIB bank, Bekia financial partner). They can then withdraw anywhere.
Once collected, the waste is split: plastic/paper sold to recycling factories (pay in advance), e-waste is handled by in-house technician and then resold once reconditioned (60%), otherwise sold separately, use cooking oil sold to Tagaddod (another startup).
Business Model:
Bekia serves two distinct user categories: B2C and B2B users. B2C users primarily encompass lower to middle-income populations who are increasingly engaging in neighborhood waste collection and enlisting Bekia's pickup services. These individuals receive daily payments for their recyclables, with Bekia generating revenue by selling separated waste materials like plastics, paper, metal, and used cooking oil to recycling factories, averaging approximately $15 in revenue per transaction.
On the corporate front, Bekia collaborates with a diverse portfolio of over 100 companies, including renowned entities such as Tupperware, Orange, Alshaya, Tetra Pak, Seera, Decathlon, Intercontinental City Stars, Holiday Inn, Staybridge Suites, Fawry, Unilever, and Virgin Megastore. Among these B2B users, 70% receive regular monthly payments for their recycling contributions, while the remaining entities receive detailed reports tailored for ESG (Environmental, Social, and Governance) reporting purposes. Bekia undertakes the collection of corporate waste, yielding an average revenue of approximately $97 per transaction. Furthermore, Bekia refurbishes and subsequently markets collected E-waste, generating an average revenue of $25 per transaction.
Their Plan to Scale:
Founded in 2020, Bekia has already achieved over $750K in revenue and over 65k user registrations. In 2023 so far, Bekia has managed to generate impressive revenue growth, of which around 30% goes to households. Additionally, the startup has managed to collect a total of 40 tons of waste per month, excluding e-waste. The number of active users who regularly participate in recycling has reached a total of 4.5K, while around 50+ orders are processed daily. Finally, the startup works with over 150 B2B customers, staying true to its mission of creating a sustainable and circular economy.
Despite Bekia’s impressive traction, they are still scratching the surface. The growth potential is enormous as they expand outside Cairo and Egypt, as well as both corporates, to advance towards ESG goals and households becoming more aware of the need for reducing waste and start recycling their waste.
Impact
Bekia, an organization dedicated to environmental conservation, has made substantial contributions to both the environment and the community. They have played a pivotal role in safeguarding the environment by successfully collecting and recycling over 9 million plastic bottles. Additionally, their efforts have impacted the mindset of more than 60,000 Egyptians, with a notable focus on women, as they aim to promote sustainability and responsible waste management.
Bekia's initiatives have also spurred over 20,000 clients to activate their mobile wallets for the first time, resulting in increased household incomes by an average of approximately $10. This financial boost has been a welcome change for many families.
Since 2020, Bekia has facilitated the collection and recycling of more than 1,000 tons of waste, primarily plastics. Notably, their efforts have led to the reduction of an estimated 2,050 tons of CO2 emissions, based on the materials recycled. This is equivalent to the annual carbon emissions of roughly 800 individuals in Egypt.
In 2021, Bekia forged a meaningful partnership with Nestle Pure Life, a prominent brand in the beverage industry. This collaboration involved tagging Nestle Pure Life water bottles made entirely from recycled plastic with QR codes, enabling consumers to easily recycle the bottles through Bekia's services. Furthermore, Bekia has established an agreement with Egypt's largest bank, CIB, to recycle expired bank cards. This not only contributes to environmental sustainability but also generates additional income for households, with Bekia disbursing up to $10,000 monthly to participating families.
Bekia Founders Team
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