Fast Track 100

Marc Walters, 48, and brother Paul, 47, along with Andrew Dulla, 36, spotted an opportunity in the growing second-hand phone market, and set up this Crewe-based firm in 2015. It buys used Samsung and Apple handsets and tests their functionality with a 20-point check before selling them to networks, insurance firms and wholesalers around Europe. It does this for about 30,000 handsets a month, boosting sales to £56m in October. Used phones outsell new phones because of the huge price difference — a new iPhone can cost more than £1,000, while a used one can be bought for as little as £70.

This profile reflects the company at time of publication and does not reflect any changes that may have subsequently occurred. Fast Track and its sponsors do not endorse, guarantee or recommend investment in any of the companies.

Company details
CompanyPhoenix Cellular
ActivityMobile phone distributor
Annual sales rise over 3 years72.28%
Latest sales £000s*56,000

If applicable:

* supplied by company † annualised figure