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# Reuse: Chile's Phone Trade-In Startup Raises US$21M to Hit US$55M Revenue
- URL: https://www.theinvestorsociety.com/reuse-chiles-phone-trade-in-startup-raises-us-21m-to-hit-us-55m-revenue/
- Published: 2026-10-06T23:00:39.000Z
- Updated: 2026-10-06T23:00:38.000Z
- Author: The Editor
- Tags: Western Hemisphere

Reuse, a Chilean startup that runs device trade-in programs for retailers and phone carriers, raised US$21 million in a round led by At One Ventures, the San Francisco fund founded by Google X co-founder Tom Chi, LatamList reported on October 5, 2026\. It is At One's first investment in Chile and its third in Latin America. Coppel Ventures, the venture arm of Mexican retailer Coppel, put in US$4 million, according to Diario Financiero, joined by Colombian fund Alive, Endeavor Catalyst and returning investors Ignia and Dalus Capital. Four early angel investors linked to LarrainVial sold their stakes in a secondary sale, earning roughly four times their 2022 investment. Reuse was founded in 2018 by José Tomás Ulloa and Max Sateler and has raised about US$27.5 million to date.

When a shopper trades in an old phone at a partner such as Falabella, Samsung, Coppel, Cencosud, Ripley, Claro, WOM or MacOnline, Reuse buys the device, checks it with its own diagnostic software, refurbishes it and resells it online with a 13-month warranty at up to 30% below the price of a new one. Revenue doubled to US$30 million in 2025 and now runs at about US$5 million a month, with Mexico contributing 60% and Chile 30%. The company, which has 120 employees and operates in Chile, Mexico and Peru, expects US$55 million in revenue in 2026 and will use the funds to grow in Mexico and enter Colombia.

## Market Context

Latin America's refurbished smartphone market is expected to grow 12% in 2026 to more than US$4 billion, according to figures cited by Ecosistema Startup. Demand is driven by high prices for new devices relative to local incomes and by retailers looking for ways to keep customers coming back. Reuse's model gives stores a trade-in program without having to handle used inventory themselves, and gives Reuse a steady supply of devices: trade-ins now account for all of its sourcing in Mexico, 70% in Peru and 50% in Chile.

The company has grown quickly through each funding stage. It raised US$1.2 million to land in Mexico and later a US$4.5 million round led by Seaya Cathay LATAM with participation from the founders of Cornershop. Rival Refurbi projects US$18 million to US$20 million in revenue for 2026, a fraction of Reuse's target. The founders' stated goal is US$500 million in revenue by 2030.

## The Number

> **US$5 million a month** Reuse's current revenue, double its 2025 monthly average, with Mexico already generating 60% of sales.

## Regional Relevance

For the United States, the deal shows Silicon Valley climate investors finding returns in Latin America's circular economy. At One Ventures backs companies that cut environmental impact while scaling profitably, and extending a phone's life is one of the simplest ways to reduce electronic waste and the emissions of making new devices. Endeavor Catalyst's participation adds another U.S.-based backer to a deal that is mostly about consumer demand in Mexico, the United States' largest trading partner.

For Chile and the region, Reuse is an example of a Chilean startup whose biggest market is already abroad. Its growth in Mexico and the planned move into Colombia give millions of consumers access to cheaper, warrantied phones, and give large retailers a new revenue stream. The secondary sale also matters locally: early angels cashing out at four times their money is the kind of return that encourages more local investors to back startups.

## The Other Side

**Is this a Series A or a Series B?** LatamList and Startups Latam describe the round as a Series A, while Diario Financiero reports it as a Series B. The company had previously raised a US$4.5 million round, so the label matters for how investors compare it with peers.

**What happens when a partner is also an investor?** Coppel is both one of Reuse's trade-in partners and, through Coppel Ventures, a US$4 million investor. That alignment can deepen the relationship, but it also concentrates risk if Coppel's strategy changes, and Mexico already provides most of Reuse's revenue.

**Are refurbished phones a margin business?** Reuse discloses revenue but not profitability. Buying, repairing and reselling devices requires working capital and is exposed to price swings in used phones and new device launches. Moving from US$55 million to US$500 million will test whether the model holds up at scale.

## Sources & Transparency

- [Reuse raises $21M Series A to expand across Latin America](https://latamlist.com/reuse-raises-21m-series-a-to-expand-across-latin-america/?ref=theinvestorsociety.com)
- [Reuse levanta US$ 21 millones con fondo de San Francisco y sus primeros ángeles venden en una secundaria](https://www.df.cl/df-mas/punto-de-partida/reuse-levanta-us-21-millones-con-fondo-de-san-francisco-y-sus-primeros?ref=theinvestorsociety.com)
- [Reuse levanta US$21 millones para escalar el mercado de tecnología reacondicionada en Latinoamérica](https://startupslatam.com/reuse-levanta-us21-millones-para-escalar-el-mercado-de-tecnologia-reacondicionada-en-latinoamerica/?ref=theinvestorsociety.com)
- [Reuse levanta US$ 21M con At One Ventures de San Francisco](https://ecosistemastartup.com/reuse-levanta-us-21m-con-at-one-ventures-de-san-francisco/?ref=theinvestorsociety.com)
- [Reuse levanta US$21 millones y prepara su llegada a Colombia para escalar el mercado de celulares reacondicionados](https://techla.pro/2026/10/05/reuse-levanta-us21-millones-y-prepara-su-llegada-a-colombia-para-escalar-el-mercado-de-celulares-reacondicionados/?ref=theinvestorsociety.com)
- [La chilena Reuse levanta US$21 millones en una ronda liderada por At One Ventures](https://www.startupjournal.io/article/reuse-levanta-21-millones-ronda-at-one-ventures?ref=theinvestorsociety.com)