Reuse, a Chilean company that refurbishes and resells used phones, has raised a $21m Series A round led by At One Ventures, a San Francisco fund co-founded by Google X co-founder Tom Chi. Law firm Gunderson Dettmer, which advised Reuse on the deal, announced the financing on 5 October 2026.
According to Ecosistema Startup, the round closed on 18 September after starting with a target of $13m and being oversubscribed. Coppel Ventures, the venture arm of Mexican retailer Grupo Coppel, the Colombian fund ALIVE Ventures and Endeavor Catalyst joined as new investors, while earlier backers IGNIA and Dalus Capital invested again. At One takes a seat on the board.
The deal is At One's first investment in Chile and its third in Latin America, Startups.com.br reported. Reuse did not disclose a valuation.
What Reuse does
Reuse was founded in 2018 by José Tomás Ulloa and Max Sateler, who run the company as co-CEOs; Ecosistema Startup also names Nicolás Ulloa as a partner who advises on strategy. The company started by buying used phones from US insurers and refurbishing them for sale in Chile.
It later moved to a business-to-business model. Reuse now runs trade-in programmes for large retailers and brands, receiving the devices that customers hand in, checking them with its own diagnostic software, refurbishing them and selling them again. Dealroom reported that the devices are resold with a 13-month warranty at prices up to 30% below new. Ulloa said in a company statement that Reuse does not appear in front of the shopper in these programmes, but that the system behind them is its own.
Retail partners named in coverage include Falabella, Coppel, Samsung, Cencosud, Ripley and Claro. The company operates in Chile, Mexico and Peru and employs about 120 people.
Revenue and growth
Reuse closed 2025 with $30m in revenue, double the previous year, and is currently billing about $5m a month, according to Startups.com.br and Dealroom. Mexico accounts for 60% of revenue and Chile for 30%.
Ecosistema Startup reported that the company projects $55m in net revenue for 2026 and is aiming for $500m in revenue by 2030. Those are company targets and have not been independently verified. Dealroom said the round sits around the 90th percentile of all Series A deals ever raised in Chile.
What the money is for
Gunderson Dettmer said Reuse will use the funds to launch operations in Colombia, deepen its integrations with retailers and invest in technology. Startups.com.br reported that the company is also studying a fintech product to sit alongside its trade-in service.
Ecosistema Startup reported further plans in Mexico, which the company expects to nearly triple, as well as an insurance module with BNP Paribas Cardif and a first physical store at the Parque Arauco shopping centre.
The funding so far
Including the new round, Reuse has raised about $27.5m since 2018, according to Startups.com.br and Dealroom. Ecosistema Startup reported that Cathay Latam led the previous round but did not invest this time because it had reached its exposure limit for the company.
Part of the transaction was a secondary sale. Early angel investors Fernando Larraín, Manuel Bulnes, José Miguel Barros and Sebastián Bulnes, all linked to LarrainVial, sold their stakes, Ecosistema Startup reported. Tomás Ulloa told the outlet that the secondary sale was not a condition set by any fund; the founders said it became possible because the round was oversubscribed. The size of the secondary component was not disclosed.
Company website: reuse.cl