Reuse raises $21M to scale refurbished tech across Latin America
What's the deal? Reuse, a Chilean refurbished-technology startup founded in 2018 by José Tomás Ulloa and Max Sateler, has closed a $21 million Series A led by At One VenturesDealroom has a profile for this one. Try Dealroom →. The San Francisco fund, founded by Google XDealroom has a profile for this one. Try Dealroom → co-founder Tom Chi, made its first Chilean investment here. Reuse has now raised about $27.5 million since 2018 and employs 120 people.
What's the endgame? Reuse started by buying used phones from US insurers to refurbish and sell in Chile, then shifted to a B2B model running trade-in programmes for the region's biggest retailers and brands. When a customer trades in a device at FalabellaDealroom has a profile for this one. Try Dealroom →, CoppelDealroom has a profile for this one. Try Dealroom →, SamsungDealroom has a profile for this one. Try Dealroom →, CencosudDealroom has a profile for this one. Try Dealroom →, RipleyDealroom has a profile for this one. Try Dealroom →, ClaroDealroom has a profile for this one. Try Dealroom →, WOM, or MacOnline, Reuse receives it, diagnoses it with its own software, refurbishes it, and resells it with a 13-month warranty at up to 30% below a new device's price. "It's a solution where Reuse doesn't appear, but the system is ours," Ulloa said (translated from Spanish).
By the numbers: Reuse closed 2025 with $30 million in revenue, double the prior year, and now bills $5 million a month. Mexico accounts for 60% of revenue and Chile 30%. It targets $55 million in net revenue for 2026 and $500 million in billings by 2030.
What's next? The company operates in Chile, Mexico, and Peru, and will use the fresh capital to enter Colombia, deepen retailer integrations, and invest in technology. It is also exploring a fintech vertical to complement its refurbished-device business. As part of the round, Reuse's earliest angel investors sold their stakes in a secondary.
The signal: The round sits around the 90th percentile for all-time Series A deals in Chile, a notable marker in a market where few startups reach this scale. It reflects growing investor appetite for circular-economy models that turn used electronics into recurring, infrastructure-backed revenue.
Read more: startupslatam.com
Image credit: Generated with Gemini
