Reboxed raises £350k in pre-seed funding from angel investors to support its on-demand buyback platform
The pre-seed round was backed by angel investors including Martin McCourt and Charlo Carabott.
Reboxed provides a recommerce platform connecting businesses and customers with sustainable technology solutions. The company aims to address the e-waste crisis by rehoming millions of electronic devices.
Reboxed has secured £350k in pre-seed funding from a group of angel investors, including former Dyson chief executive Martin McCourt and Mazuma Mobile co-founder Charlo Carabott.
The fresh capital follows an earlier raise that brings the firm's total backing in 2020 to £500k. Reboxed launched in September with the ambition to rehome 100 million mobile devices by the end of the decade.
The newly acquired funds will support the rollout of an on-demand buyback system powered by the company's diagnostic service, TechCheck. Alongside the financing, Charlo Carabott will join the board of directors.
From the founder
"I’m happy to announce this investment and excited by the opportunity to transform the pre-owned and refurbished experience, which suffers from poor satisfaction and inconvenience, and is failing the needs of today’s on-demand consumers. Shifting people away from the expense of new and upgrading to reboxed means we can save money and the planet while still offering value, quality and ease."
Phil Kemish
Co-founder and CEO at Reboxed
Investor perspective
"There is undoubtedly growing interest amongst phone owners in exchanging their used handset for a replacement that is also used, but in great condition. The challenge would-be ‘swappers’ have is the hassle they face in executing the transaction, and the chance that they will receive a poor trade-in deal and maybe a substandard product. Reboxed changes all of that with a fresh, easy to use platform that offers swappers a great deal and a fab service, second to none"
Martin McCourt
former CEO, Martin McCourt
Use of funds
- 01Continue product development