Refurbi, the Colombian refurbished-phone startup, raises $4M USD to expand into Mexico
Refurbi raises US$4 million to expand into Mexico with its profitable refurbished-smartphone and circular-economy model, backed by impact funds and regional banks
Mexico City, January 2026. Refurbi, the Colombian startup focused on the circular economy and the refurbishment of electronic devices, announced the closing of a seed extension of US$4 million in equity and debt, as part of its strategy to consolidate its growth and launch operations in Mexico. The round was led by Latin Leap and included participation from impact and financial investors such as Impact Ventures PSM (Promotora Social México’s impact investment arm), Epic Angels, David Buenfil former CEO of Skandia Latam, as well as multilateral and banking institutions such as the Inter-American Development Bank (IDB) and Banco Itaú, at a time when the refurbished technology market is gaining traction in Latin America.
Founded in Colombia, Refurbi was created with the goal of accelerating Latin Americans’ transition to more sustainable mobile devices, in a market characterized by high levels of informality and distrust. To do so, the company combined industrial refurbishment processes with proprietary technology and a value proposition centered on user trust. Over time, Refurbi evolved into an end-to-end ecosystem encompassing a marketplace for refurbished devices, trade-inprograms, specialized software, as well as financing and insurance solutions for mobile devices, enabling retailers, manufacturers, operators, and insurers to manage the lifecycle of electronic devices more efficiently.
After validating its model in the Colombian market, Refurbi established itself as the country’s leader and fastest-growing company in the refurbished technology segment, also achieving profitability since 2024, a rare milestone at this stage for startups in the sector. To date, the company has served more than 80.000 users and estimates that it has captured nearly 0,5% of Colombia’s total mobile phone market, enabling it to scale processes to industrial standards and build a value proposition based on trust: 14 months of warranty, packaging experience comparable to that of a new device but with a lower environmental impact, and 30 days to return, laying a solid foundation for more structured regional expansion.
Against this backdrop of operational consolidation and model validation, Refurbi raised this seed extension round as a strategic step to accelerate its entry into the Mexican market. The capital will allow the company to deepen its commercial scale, advance toward its goal of reaching US$100 million by 2030 and roll out its proprietary-technology trade-in model in Mexico, working closely with retailers, manufacturers, and telecom operators in one of the region’s most significant markets.
From the founding team’s perspective, this round represents a turning point in building the company. “This round allows us to consolidate what is already working and take our model to a new level in Mexico”, said Sebastián Jiménez, Refurbi’s CEO and founder, noting that the focus is on improving operational efficiency, expanding its in-house technology, and working with major ecosystem players to make technology more sustainably accessible. “We believe that well-executed refurbishment can be key infrastructure for digital inclusion in the region”, he added.
This round comes at a time when the refurbished-device market and circular-economy models are beginning to establish themselves as a structural alternative in Latin America, following successful models such as Back Market, Refurbed and Atrenew in more established markets. In a region marked by the digital divide, steadily rising prices for new devices, and growing environmental awareness, solutions that extend the useful life of electronic equipment have ceased to be a niche and become a meaningful response to challenges in digital inclusion, sustainability, and economic efficiency.
“In Latin America, where device replacement cycles exceed 36 months and prices for new devices have risen by more than 30 % in recent years, refurbishment is moving beyond a niche to become a category with solid fundamentals and sustained growth potential”, said Stefan Krautwald, Managing Partner at Latin Leap VC.
About Refurbi
Refurbi is a Latin American startup founded in Colombia that promotes the circular economy through the refurbishment of electronic devices, primarily mobile phones. The company combines industrial processes, proprietary technology, and a value proposition centered on user trust to extend the useful life of devices and facilitate access to more sustainable technology in the region. Its end-to-end ecosystem includes a marketplace for refurbished devices, trade-inprograms, specialized software, as well as financing and insurance solutions for mobile devices, enabling retailers, manufacturers, operators, and insurers to manage the lifecycle of electronic equipment more efficiently.
With more than 80.000 users served, profitability since 2024, and a share of nearly 0,5 % of Colombia’s mobile phone market, Refurbi has established itself as the country’s leader and fastest-growing company in the refurbished technology segment. The company is currently advancing its regional expansion with its entry into Mexico and a revenue target of US$100 million by 2030, working closely with major ecosystem players to promote digital inclusion and sustainability in Latin America.
