Reuse secures $21 million Series A to expand refurbished tech market in Latin America

The Chilean startup Reuse has closed a Series A funding round of $21 million to scale its operations in the refurbished technology sector across Latin America. The company, which was founded in 2018 by José Tomás Ulloa and Max Sateler, is using the new capital to accelerate its regional growth and deepen its technological infrastructure. Startups Latam reported the story.

The funding round was led by At One Ventures, a San Francisco-based investment fund established by Tom Chi, a co-founder of Google X. This transaction marks the fund's first investment in Chile and its third investment across the entire Latin American region. With this new capital, Reuse has raised a cumulative total of approximately $27.5 million since its inception in 2018. The company currently employs a team of 120 people to support its growing operations.

Reuse originally began its business by purchasing used mobile devices from insurance companies in the United States, refurbishing them, and selling them in Chile. The company has since evolved into a B2B model where it manages trade-in programs for major retailers and brands throughout the region. When customers surrender their devices as partial payment to partners such as Falabella, Coppel, Samsung, Cencosud, Ripley, Claro, WOM, or MacOnline, Reuse receives the equipment. The company then diagnoses the devices using its proprietary software, refurbishes them, and resells them with a 13-month warranty at prices up to 30 percent lower than new devices.

Financial performance has shown significant growth, with the company closing 2025 with $30 million in revenue, double the amount from the previous year. Reuse currently generates $5 million in monthly revenue. Mexico accounts for 60 percent of this revenue, while Chile represents 30 percent, reflecting the company's recent expansion focus. The company operates in Chile, Mexico, and Peru, and plans to enter the Colombian market using the new resources. The goal for 2026 is to close with $55 million in net revenue, with a run rate approaching $80 million annually by December, aiming for $500 million in total revenue by 2030.

As part of the funding round, the company's initial angel investors conducted a secondary sale of their equity stakes. Reuse differentiates itself from simple resellers through its proprietary software infrastructure, which automatically analyzes device condition, detects component originality, and evaluates hardware and software to process industrial volumes with consistent standards. The company will use the new capital to accelerate regional expansion, deepen integrations with retailers and brands, and invest in technology. Recently selected as an Endeavor Entrepreneur, Reuse is also exploring the launch of a fintech vertical to complement its value proposition in the refurbished device ecosystem.