Secondary market startup Reboxed has secured £1.6 million in seed funding from venture capitalist ACF Investors to develop its retail partner programs and Reboxed for Business service.
Founded in 2020 by Phil Kemish (left) and Matt Thorne Right) , Reboxed aims to provide boxed used devices for retailers and businesses, offering refurbished and pre-owned phones, laptops, tablets, and smartwatches through a ‘like new’ experience. It started with £350,000 of investment and completed its first round of £1 million seed funding two years ago.
Reboxed counts Three Mobile’s SIM-only brand SMARTY and Lebara Mobile among its clients.
The company’s original investors include YouTuber Ali-A, ex-founders of Mazuma and Envirophone, Martin McCourt, ex-CEO of Dyson, Nick Beighton, ex-CEO of ASOS, and the Ministry Of Sound group.
Co-founder Phil Kemish stated, ‘ESG pressures mean that businesses are seeking integrated solutions to help achieve their climate goals. This latest investment will be utilized to expand our growing team, build out our technology stack, and scale the brand.’
ACF Investor managing partner Tim Mills added, ‘Recommerce is growing 11 times faster than traditional retail. Too often, the price of sustainability is a compromised customer experience. We are delighted to back Reboxed as they offer UK consumers access to premium ‘like new’ products.’
ACF Investors is a private venture capital fund investing in high-potential SMEs across the UK, having invested more than £75 million in early-stage companies.”
