Trocafone, the Brazil-based operator of an e-commerce platform for used electronics devices, has raised $15m in funding from investors including e-commerce company MercadoLibre’s corporate venturing unit, TechCrunch has reported.
Mercado Libre Fund was joined by Castor Ventures Fund, the venture capital fund centred on alumni from university MIT, as well as Callfort, FJ Labs and Rocketship.
Trocafone runs an online marketplace where users can send electronics such as smartphones in return for vouchers that can be part exchanged for new products in brick-and-mortar stores. It conducts repairs on the items and sells them as used through its platform.
The company raised R$20m ($5.7m) in an April 2016 round featuring investment firm Sallfort after securing $3.1m from telecommunications company Telefónica’s Wayra subsidiary, 500 Startups, Lumia Capital and Quasar Ventures in late 2015, all of which had joined NXTP to invest $1m in 2014.