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RecyclePoints | Company profile, Business Model, and Operations

Recieved Funding?
yes
Type of Funding
Grants, Accelerator/Incubator
Number of Funding Phases
3
Business Type
Private Company

All you need to know about RecyclePoints

RecyclePoints is the leading waste recycling and social enterprise in Nigeria, which encourages individuals to recycle their everyday waste by providing incentives and creating value from it.

Our incentive model is POINT-BASED and involves the collection of Pure Water Sachets (PWS), PET Plastic Bottles (PET), Used Beverage Cans (UBC), Glass bottles (GBS), Old Newspapers (ONP), and Brown Corrugated Cartons (BCC) from registered post-consumers. In return, we reward them with POINTS that can be redeemed for household items and cash once accrued, through our iRecycle store.

Points are awarded according to a Points Earning Chart, where the number of items is correlated to the points earned.

  • Headquarters: Lagos Mainland, Lagos
  • Year Founded: 2012
  • Company Size: 11-50 employees

How RecyclePoints Works

RecyclePoints collect recyclable materials directly from consumers after use, resulting in clean materials that have not been mixed with dirt.

This significantly increases the value of the recycling process by lowering the cost of cleaning and ensuring high-quality materials without impurities.

Recyclables are taken to our Collection and Sorting HUBs (CoSoHUB) for further processing.

Afterward, the materials are sold to manufacturing/recycling plants, where they are used as raw materials for producing a variety of items such as polyester fiber, carpets, hangers, pegs, aluminum ingots, and craft papers for carton production.

We offer both drop-off and door-to-door collection services for the following recyclable items.

At Recyclepoints, the concept of 'Away' does not exist. Whenever we dispose of something, it has to be directed somewhere.

How Does Subscribers Accumulate RecyclePoints?

Subscribers accumulate RecyclePoints every time they recycle any of the recyclable items on the list.

  • Shredded Office Paper
  • Old Newspapers
  • Empty Plastic Bottles
  • Empty Pure Water Sachets
  • Glass Bottles (Clear glass, Brown glass, Green glass)
  • Used Beverage Cans (Aluminium and Steel cans)

Recycling involves organizing and separating the listed items above into waste bags, then informing RecyclePoints to collect the full waste bags. You can also find a RecyclePoints center to deposit your recyclable waste items.

RecyclePoints are earned based on the number of items recycled and can be redeemed for gift vouchers at well-known stores and shopping malls, as well as for purchasing over-the-counter drugs at pharmacies, watching movies, and more.

Our Products & Services

1. Recyclable Waste Collection

RecyclePoints gathers certain recyclable materials to be processed into new raw materials for production.

2. iRecycle Program

Participants in our iRecycle Program can trade in their recyclable items for "Points" that add up over time.

When they drop off their recyclable items, the items are counted and points are earned based on the chart below.

These points can then be used to redeem valuable household items from our iRecycle Store.

3. WastePickers Initiative

Through our WastePickers Initiative (WPI), individuals can exchange their recyclable materials for cash rewards, which are determined based on the weight of the items being recycled.

Participants are required to deliver their recyclable items to one of our nearest hubs. The items will be weighed and their value calculated based on the weight. Each type of material has a specific price per kilogram.

The cash rewards will be deposited into the participant's bank account.

4. Corporate Recycling

Facilitates the involvement of businesses in recycling efforts, advancing corporate sustainability goals.

5. Schools Recycling

An initiative designed to encourage educational institutions to participate in recycling initiatives.

6. Waste Audit

RecyclePoints performs waste audits for businesses and corporate facilities.

    Company Co-founders
    Chioma Ukonu
    Alison Ukonu
    Related Topics

    RecyclePoints
    Business Model

    The Company major services and product include: Waste Recycling, Social Benefits, and Sustainable Development

    The Company was Founded
    The Company was established on
    January 4, 2012
    HeadQuarters
    The Company has its Operational Headquarters at Lagos, Nigeria
    Industry
    The Company is contributing to the development of the Industry Environment, Recycling, Renewable Energy
    Staff Strength since Inception
    The Company prides in her team member of about 1 - 50 active members

    RecyclePoints Business Model

    The Company major services and product include: Waste Recycling, Social Benefits, and Sustainable Development

    yes
    Have they recieved Funding from VCs
    yes
    Have they recieved Funding from VCs
    yes
    How many number of Funding rounds?
    Not Available
    Company Net worth as of 2023

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