Total amount raised
$50.3 Millions
Latest funding date
3/1/2023
Location
Reebelo has successfully raised significant funding through multiple rounds, with its latest being a Series A round on March 20, 2023. The company is backed by 12 investors, including notable names like Cathay Innovation and Moore Strategic Ventures.
Keep reading to explore the intricacies of Reebelo's fundraising journey and the investors backing this innovative platform.
What Is Reebelo?
Reebelo, founded in October 2019 by Philip Franta and Rastouil Fabien, is a marketplace for refurbished tech and sustainable lifestyle products. Headquartered in San Mateo, California, the company also has offices in major cities like San Francisco, Miami, Toronto, Singapore, Melbourne, Hong Kong, Kuala Lumpur, and Auckland.
Reebelo aims to reduce e-waste by promoting a circular economy for tech, offering refurbished devices and lifestyle products at significant discounts. Customers can save up to 70% on their favorite brands or opt to rent products instead of buying them.
With a team of 101-250 employees, Reebelo has served over 500,000 customers, providing certified refurbished products with up to a 12-month warranty and 30 days free returns.
How Much Funding Has Reebelo Raised?
- Pre-Seed Round
- Amount Raised: $100K
- Date: October 2019
- Lead Investors: Antler
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To kickstart the business and develop the initial platform.
- Seed Round
- Amount Raised: $1.2M
- Date: April 2020
- Lead Investors: June Fund
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the product range and enhance the platform's capabilities.
- Series A Round
- Amount Raised: $20M
- Date: February 2022
- Lead Investors: Cathay Innovation, June Fund
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and enter new markets.
- Series A+ Round
- Amount Raised: $29M
- Date: March 2023
- Lead Investors: Cathay Innovation
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To accelerate expansion, particularly in the US market.
Total Amount Raised: $50.3M. Current Valuation: Not publicly disclosed.
Key Investors
- Cathay Innovation
- Details: Cathay Innovation is a global venture capital firm that partners with startups to drive innovation. They have a strong presence in the technology sector and aim to support companies that are transforming industries.
- Investment Focus Areas: Technology, digital transformation, sustainability.
- Notable Investments: Chime, Glovo, Ledger.
- June Fund
- Details: June Fund is a venture capital firm that focuses on early-stage technology companies. They aim to support innovative startups that have the potential to disrupt markets.
- Investment Focus Areas: Technology, software, digital platforms.
- Notable Investments: Not explicitly mentioned.
- Antler
- Details: Antler is a global early-stage venture capital firm that invests in startups from the idea stage to Series C. They provide support and resources to help entrepreneurs build successful companies.
- Investment Focus Areas: Startups from the idea stage to Series C.
- Notable Investments: Not explicitly mentioned.
- Moore Strategic Ventures
- Details: Moore Strategic Ventures is the private investment arm of Louis M. Bacon, founder of Moore Capital Management. They invest in a diverse range of sectors, including technology and financial services.
- Investment Focus Areas: Technology, financial services, real estate.
- Notable Investments: Not explicitly mentioned.
- FJ Labs
- Details: FJ Labs is a venture capital firm and startup studio focused on marketplaces and network effect businesses. They have a global reach and invest in companies that leverage network effects to grow.
- Investment Focus Areas: Marketplaces, e-commerce, network effect businesses.
- Notable Investments: Alibaba, Flexport, Rappi.
What's Next for Reebelo?
Reebelo's future looks promising as it capitalizes on the growing demand for refurbished electronics. With a recent $29 million funding round, the company is poised to expand its footprint in the U.S. market, opening a second office to accelerate growth. The U.S. market, projected to reach $245 billion by 2025, offers a substantial opportunity for Reebelo to scale its operations and enhance its market presence.
As Reebelo continues to grow, future fundraising opportunities are likely, especially as the company demonstrates success in new markets. However, challenges such as competition from other refurbished electronics dealers and maintaining product quality will need to be navigated carefully. Ensuring regulatory compliance and building brand trust in new regions will also be critical for sustained growth.
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