Singaporean refurbished electronics marketplace Reebelo secured $29M in Series A extension funding led by Cathay Innovation.
The latest capital infusion brings its total funds raised in the Series A round to $50M. The firm intends to use the proceeds to grow its presence in the U.S. and expand into Canada later this year.
Moore Strategic Ventures, Gandel Invest, and Antler participated in the funding round.
- The firm is planning on entering new product categories.
- Reebelo currently provides services in Singapore, Australia, New Zealand, Malaysia, Hong Kong, South Korea, and the U.S.
- Reebelo announced it has built a new U.S. headquarters in San Mateo, California.
- Reebelo entered the U.S. market less than a year ago, and it has already become its second-largest market, contributing 25% of the total sales with over 21,000 customers.
- It expects the U.S. to become its largest market within six months.
