Reuse, the Chilean repurposed technology startup founded in 2018 by José Tomás Ulloa and Max Sateler, closed a US$21 million Series A led by At One Ventures, a San Francisco fund founded by Tom Chi, co-founder of Google
It is the fund’s first investment in Chile and its third in all of Latin America. With this operation, Reuse has accumulated close to US$27.5 million raised since 2018 and adds 120 people to its team.
The company was born buying used cell phones in the United States from insurance companies to recondition them and sell them in Chile, and evolved into a B2B model where it operates the trade-in programs of the main retailers and brands in the region.
When a customer leaves their device in part payment at Falabella, Coppel, Samsung, Cencosud, Ripley, Claro, WOM or MacOnline, it is Reuse who receives that equipment, diagnoses it with its own software, reconditions it and resells it with a 13-month warranty, at up to 30% less than the price of a new device.
A business that doubled revenue in one year
Reuse closed 2025 with US$30 million in revenue, double the previous year, and today bills US$5 million per month. Mexico represents 60% of the revenue and Chile 30%, a distribution that reflects the focus of expansion in recent years.
The company operates in Chile, Mexico and Peru, and with the new resources it is preparing its entry into Colombia. The goal for 2026 is to close with US$55 million of net revenue, with a run rate close to US$80 million annually in December, aiming for US$500 million of billing by 2030.
As part of the round, the company’s first angel investors also carried out a secondary sale of their stakes.
Trade-in and circular economy as a model
What distinguishes Reuse from a simple reseller is its technological infrastructure: its own software that automatically analyzes the status of each device, detects the originality of its components and evaluates hardware and software, allowing industrial volumes to be processed with consistent standards.
“It is a solution where ReUse does not appear, but the system is ours,” explained José Tomás Ulloa in a recent interview.
With the fresh capital, Reuse will accelerate its regional expansion, deepen its integrations with retailers and brands, and invest in technology. The company, recently selected as an Endeavor Entrepreneur, is also exploring the launch of a fintech vertical that complements its value proposition in the refurbished device ecosystem.
