TLDR:
- Chilean tech marketplace Reuse raised a $4.5M seed round led by Seaya Cathay Latam.
- Reuse plans to use the funding to expand in Mexico.
Chilean tech marketplace Reuse has secured a $4.5 million seed round, with Seaya Cathay Latam leading the investment. Other participants in the round include Dalus Capital, Ignia, Angel Hub, Compusoluciones Ventures, and Silence VC. The funds will be used by Reuse to further its growth in the Mexican market. Reuse operates as an end-to-end online platform for buying and selling refurbished electronics in Chile, Mexico, and Peru, partnering with companies such as Falabella, Coppel, and Samsung to resell devices returned in trade-in programs. Federico Gómez Romero, Director at Seaya Cathay Latam, commented on the market potential for used and refurbished electronics in Latin America, citing increasing regulations and government initiatives for customer protection as drivers for growth. Founded in 2018, Reuse saw sales surpassing $15 million in 2023, signaling strong demand for its services in the region.
