Refurbi, a Latin American startup specialized in the reuse and recycling of electronic devices, announced the closing of a seed extension investment round for US$ 4 million between equity and debt. The resources will be invested in its strategy of operational consolidation and regional expansion, mainly towards Mexico.
The round was led by the Latin Leap fund and included the participation of impact and financial investors such as PSM Impact Ventures and Epic Angels, as well as multilateral and banking entities such as the Inter-American Development Bank (IDB) and Banco Itaú.
Founded in Colombia, Refurbi was born with the purpose of accelerating the transition of Latin Americans towards more sustainable mobile devices, in a market characterized by high levels of informality and mistrust.
From marketplace to comprehensive ecosystem
The company combined industrial reconditioning processes with its own technology and a value proposition focused on user trust. Over time, it evolved into a comprehensive ecosystem spanning multiple solutions.
Refurbi operates a marketplace of refurbished devices, trade-in programs, specialized software, as well as financing and insurance solutions for mobile devices. This allows actors such as retailers, manufacturers, operators and insurers to more efficiently manage the life cycle of electronic devices.
The proposal is based on trust: 14 months of warranty, a packaging experience comparable to that of a new device with lower environmental impact and 30 days of return. These high standards have differentiated Refurbi in a sector traditionally marked by mistrust.
Profitability and leadership in Colombia
After validating its model in the Colombian market, Refurbi established itself as the leader and the fastest growing company in the refurbished technology segment in the country. It achieved profitability in 2024, a rare milestone at this stage for startups in the sector.
To date, the company has served more than 80,000 users and estimates to have participated in about 0.5% of the total mobile phone market in Colombia. This volume allowed it to scale processes with industrial standards and build solid foundations for a more structured regional expansion.
“This round allows us to consolidate what already works and take our model to a new scale,” declared Sebastián Jiménez, CEO and founder of Refurbi.
Mexico as the next strategic market
The capital raised will allow the company to deepen its commercial scale, advance towards its goal of US$ 100 million by 2030 and deploy its trade-in model with proprietary technology in Mexico, working hand in hand with retailers, manufacturers and telecommunications operators.
Mexico represents one of the most relevant markets in the region for the Refurbi model. The focus is on deepening operational efficiency, expanding internally developed technology and working with large players in the ecosystem to facilitate access to technology in a more sustainable way.
“We believe that well-executed refurbishment can be key infrastructure for digital inclusion in the region,” added Jiménez.
Infrastructure for digital inclusion
From the vision of the founding team, this round represents a turning point in the construction of the company. The regional context favors the model: renewal cycles of more than 36 months and prices of new equipment that have risen more than 30% in recent years.
The combination of industrial processes, proprietary technology and a proposal focused on user trust has allowed Refurbi to differentiate itself in a traditionally fragmented and informal market. The expansion to Mexico will seek to replicate this formula in a larger scale market.
With more than 80,000 users served, profitability since 2024 and a share of close to 0.5% of the mobile phone market in Colombia, Refurbi is advancing its regional expansion with a clear objective: to reach US$ 100 million in revenue by 2030, promoting digital inclusion and sustainability in Latin America.
