Monday
November 20
2017

Trocafone raises $15 million to expand its used electronics marketplace in emerging markets

Trocafone, the online marketplace for used electronics, has raised $15 million in new financing to expand its reach beyond Brazil and Argentina into other emerging markets.

The company, which raised $7 million in a previous round of financing last year, said the new money came from Callfort, MIT Castor Ventures FundFJ Labs, Rocketship, Mercado Libre Fund and other undisclosed investors.

Latin America is the fourth largest smartphone market in the world, the company said, despite the fact that roughly 418 million people can’t afford to buy one, according to data from the company.

Photo courtesy of uditha wickramanayaka.

Source: TechCrunch (link opens in a new window)

Categories
Technology
Tags
electronics, Latin America, mobile phones, mobile technology, technology