March 20, 2023, SAN MATEO, California — Reebelo, the fastest-growing online retailer for reasonably priced, environmentally friendly consumer products, said that it had raised USD 29 million, increasing the total amount raised for series A to USD 50 million. Reebelo’s formal debut in the US coincides with the new funding round, which was headed by Cathay Innovation (Global) and included Moore Strategic Ventures (USA), Gandel Invest (Australia), and Antler (Global).
Reebelo, established in 2019 by Philip Franta and Fabien Rastouil, is one of the most reliable marketplaces for buying reconditioned consumer goods. Reebelo has proven recession-proof despite the volatile market, recording substantial growth while retaining elite unit economics. During the past two years since its start in 2019, Reebelo has serviced over 200,000 consumers and achieved a 12X increase in gross merchandise value (GMV). In the previous year, global sales quadrupled, with the US accounting for 25% of all sales.
Reebelo, established in 2019 by Philip Franta and Fabien Rastouil, is one of the most reliable marketplaces for buying reconditioned consumer goods. Reebelo has proven recession-proof despite the volatile market, recording substantial growth while retaining elite unit economics. During the past two years since its start in 2019, Reebelo has serviced over 200,000 consumers and achieved a 12X increase in gross merchandise value (GMV). In the previous year, global sales quadrupled, with the US accounting for 25% of all sales.
With the launch of a second US office and an expansion into Canada scheduled for later this year, the fresh capital round will be utilized to expand Reebelo’s workforce in the US and other international markets. The team will also keep coming up with new ideas to enhance its product line, with an emphasis on the integrated financial components listed below:
Customers may save up to 70% on their preferred tech accessories, in keeping with Reebelo’s objective to make inexpensive technology available to everyone. Every used equipment, including smartphones, computers, drones, and gaming technology, is reconditioned and put through more than 70 checks before being put up for sale.
“Reebelo’s decision to base its operations in the US further positions it to establish itself as a significant global player in e-commerce, according to Rajive Keshup, Partner, Cathay
Innovation. “Its reach as a key platform for the circular economy is expanding beyond Australia and Southeast Asia to encompass one of the most crucial markets in the world,” he added. At the same time, Philip and Fabien’s management and laser-like concentration on expanding a sizable global platform stretching from San Francisco to Sydney, while extremely capital-efficient, have pleased us.”
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