The financing from Capital Invent and E Capital will be used to open more kiosks
The Mexican startup is tackling two problems (link in Spanish): access to affordable mobile phones and electronic waste.
Mexico has lower mobile penetration than Latin American peers Argentina, Chile and Uruguay, largely because of the high cost of smartphones and a lack of financing options.
At the same time, about 55 million tons of electronics are discarded globally every year; only a fraction are recycled or disposed of safely.
Rescata, which provides phone-repair services, also refurbishes and sells old phones at half the original sticker price, with a six-month warranty and financing options. Phones are sold online or at about 25 kiosks around Mexico.
Since last year, the company says it has served 50,000 customers and grown to more than 70 employees.
The financing (link in Spanish) from Capital Invent and E Capital will be used to open more kiosks.