Can Bank

Overview

CanBank is a smart reverse vending machine built by the Egyptian startup ZeroPrime Technologies. People drop in empty plastic bottles and aluminium cans, and the machine identifies and sorts them, then rewards the user with mobile credit, discounts on services or a donation to charity. Its machines are installed at universities and public spaces around Cairo, including the New Administrative Capital, and supermarkets are next. The business now funds itself and aims to have 20,000 machines across Egypt by 2030.

The pitch

Islam El Refaey brought CanBank to the first season of Shark Tank Egypt in 2023, asking for EGP 1.5 million for 5% of the company. He pitched it as a way to grow recycling in Egypt by paying ordinary people back for their bottles and cans, an idea that came from watching informal waste collectors earn a living by sorting rubbish. He left the tank without a deal.

Services & products

• CanBank reverse vending machineSmart machine that accepts empty plastic bottles and cans, then identifies and sorts them automatically.
• Mobile credit rewardsUsers can turn the bottles and cans they deposit into mobile phone credit.
• Discounts and promo codesRewards can also be redeemed as discounts on partner services, such as ride-hailing promo codes.
• Donate to charityUsers can give the value of their recyclables to a charity instead of keeping the reward.
• Machine placement for venuesMachines are installed at universities, public spaces and, soon, supermarkets to collect recyclables.

Team

• IEIslam El RefaeyFounder

After the show

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