Singaporean refurbished-electronics marketplace Reebelo has raised a US$1.25 million seed round led by June Fund, with participation from Antler.
The funds will be used to speed the firm’s expansion by supporting new marketing and operations hires as the business extends further into Asia-Pacific markets.
“We are strong believers and investors in circular commerce,” said June managing partner David Rosskamp, who is joining Reebelo’s board. “What it ultimately stands for is a different form of consumption, with a more sustainable and often fairer way. Reebelo’s team is following this mission with passion and focus.
“Supporting Reebelo to build up a central electronics trading infrastructure ideally mirrors our investment theses, and we are happy to invest at an earlier stage than we usually do.”
The firm acts to reduce consumer-electronics waste and has a strong sustainability focus, selling checked and refurbished devices at prices up to 70-per-cent less than brand new models. It also purchases second-hand devices to be refurbished and resold.