Reebelo, the Asia-Pacific marketplace for pre-owned electronic devices, has secured new funding that will be used to increase headcount and expand into new markets.
More than 50 new hires are expected across existing markets and several new markets will be explored in 2022. The company will add device protection to its service, providing a two-year warranty on products sold – the typical warranty for new devices.
The US$20 million (AU$28,042,800) funding round was led by Cathay Innovation, June Fund, FJ Labs, KREAM, Moore Strategic Ventures, French Partners and Gandel Invest.
Founded in 2019, Reebelo now operates offices in Australia, New Zealand, Singapore, Malaysia, Hong Kong and Taiwan. Pre-loved gadgets, such as phones and laptops, get refurbished and go through a range of quality controls before being listed on the marketplace.
“This is a good way for businesses to promote sustainability as well as reduce their hardware costs by offering quality devices to their employees,” says Reebelo ANZ managing director Gulrez Tyebji. “We already work with many SMEs who purchase from us regularly and are extremely happy because they are actively contributing, reducing the impact of e-waste on the planet.
“Not only that, but their customers and employees are getting increasingly aware of the impact of e-waste and hence want to associate themselves with businesses that believe in the circular economy.”
Reebelo partners with more than 100 certified vendors to offer “the largest inventory for certified pre-owned tech in its markets,” says a media release.
“We believe in a future where everyone has access to affordable electronics, consumed in a more sustainable way,” says founder and CEO Philip Franta (pictured at left with co-founder Fabien Rastouil). The company’s mission is to reduce e-waste and “refresh the way tech is consumed by making device consumption affordable, sustainable and delivered through a platform built on sustainable values and quality-assured devices”.
“Reebelo is building a central trading infrastructure for circular commerce,” says David Rosskamp, founder and manager at June Fund, a global technology investor.