EcoATM, a US-based mobile phone and electronics recycling company backed by Nasdaq-listed vending group Coinstar, has raised $40m in mezzanine debt financing from Falcon Investment Advisors.
In May, EcoATM raise $17m from Coinstar, Singapore billionaire Koh Boon Hwee, advisory firm AKS Capital and venture firms Claremont Creek Ventures, TAO Ventures, PI Holdings, Moore Venture Partners.
EcoATM raised $14.4m in its series A equity and debt round in 2011 with backing from Coinstar and Claremont Creek Ventures. Silicon Valley Bank provided venture debt.
In August 2010, EcoATM raised an undisclosed amount of venture funding from Coinstar following a personal investment from the Nasdaq-listed company’s chief executive in February 2010.
Founded in 2008, EcoATM scans used electronic devices, such as mobile phones and iPods, to gauge value and pay consumers before reselling them worldwide or reclaiming the components.
In February 2010, Coinstar founder Jens Molbak joined EcoATM as a board member and investor, alongside US-based venture capital firm TAO Venture Capital Partners, which led the first institutional round of funding.