Reebelo plans to use the funding to offer new services and expand its tablet, laptop, and drone offerings. Here are the top-line bullets you need to know.
Reebelo, a refurbished electronics marketplace, has raised $20M in a Series A round that drew participation from Antler, Cathay Innovation, June Fund, and Moore Strategic Ventures, among others.
HOW’S THE COMPANY PERFORMING?
- Singapore-based Reebelo offers refurbished electronic devices, including smartphones, tablets, laptops, and drones.
- The company has about 10K monthly customers and is approaching $100M in annualized gross merchandise value.
- Reebelo has offices in Singapore, Australia, New Zealand, Taiwan, Malaysia, and Hong Kong.
Source: Reebelo
WHY DOES THE MARKET MATTER?
- The global refurbished and used mobile phones market is expected to reach a value of $143.8B by 2031, growing at a CAGR of 10.2%, according to Persistence Market Research.
- The market’s growth has been spurred by the rising adoption of consumer devices, the general trend toward recycling e-waste, and the economic slowdown caused by the pandemic.
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