Reebelo Secures Fresh Capital to Drive APAC Growth
Deal News | Nov 07, 2024 | Aim Group
Reebelo, a Singapore-based marketplace for used electronics, has secured additional funding from its parent company, Quista Technology, to accelerate growth in the Asia-Pacific region. The undisclosed capital aims to enhance Reebelo's product offerings and support its mission of sustainable and accessible technology, reflecting rising demand for refurbished devices driven by economic and environmental concerns. Last year, the company raised $7 million in an extended Series A round from Cathay Innovation. With this recent investment, Reebelo plans to expand its inventory and improve customer experience through better service and warranty options, further cementing its role in the circular economy. Founded in 2019 by Franta and Fabien Rastouil, Reebelo's revenues have consistently grown, achieving a 600% increase year-on-year, with projections to reach an annualized gross merchandise volume (GMV) of $100 million. The company's efforts are crucial in extending product life cycles and minimizing environmental impacts.
Sectors
- E-commerce
- Technology
- Circular Economy
Geography
- Singapore – Reebelo is based in Singapore and focuses on growth within the Asia-Pacific region.
- United States – Quista Technology, the parent company of Reebelo, is based in the U.S.
Industry
- E-commerce – Reebelo operates in the e-commerce sector as a marketplace for used electronics.
- Technology – The company deals with electronic products, making this a relevant classification.
- Circular Economy – Reebelo's business model focuses on sustainability and extending the life cycle of tech products.
Financials
- Undisclosed – New funding amount from Quista Technology to Reebelo.
- $7 million – Funding from Cathay Innovation as part of an extended Series A round.
- $100 million – Projected annualized GMV for Reebelo.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Reebelo | Target company | Company | A Singapore-based used-electronics marketplace focused on sustainability. |
| Quista Technology, Inc. | Parent company | Company | U.S.-based parent company providing the latest investment to Reebelo. |
| Cathay Innovation | Investor | Company | An existing investor who participated in an extended Series A funding round. |
| Franta and Fabien Rastouil | Founders | People | Founders of Reebelo, leading the company's growth since 2019. |