In a story brought to our attention by LAVCA, Brazilian used electronics marketplace, Trocafone, has raised US$3M from Pedralbes Partners and Chinese smartphone reseller, Aihuishou, to consolidate its market in Brazil. Trocafone was founded in 2014 by Argentine entrepreneurs Guillermo Freire and Guillermo Arslanian, and has raised around US$51.6M to date across seven funding rounds.
Aihuishou is the Chinese market leader in iPhone resale and is valued at around US$1.5B.
“The fact that the market leader in our industry has decided to place their trust in Trocafone means that the business has great potential and that these investors see Latin America as a market with significant opportunities,” said Guillermo Freire, CEO of Trocafone.
Trocafone has processed around US$90M in transactions in 2018 and is the market leader in Brazil and Argentina. The company is currently looking to expand into Mexico, Peru, and Colombia.
Trocafone is leading the re-commerce market, an industry focused on sustainable consumerism, by creating a high level of trust in the used products that are available on the platform. Trocafone assures that each product works and that they are not stolen goods. They offer free shipping and returns if the product fails within 90 days of purchasing.
Read more about Trocafone on LAVCA.