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Trocafone in Brazil raises $3 million to find buyers for used electronics

ImpactAlpha, August 22 – Nearly 50 million tons of electronic waste end up in landfills and dump sites each year—a figure that is growing as “disposable incomes in many developing countries are increasing and a growing global middle-class is able to spend more on electrical and electronic equipment, consequently generating more e-waste,” according to a report from United Nations University.

Trocafone, a startup in Brazil, is playing a role in diverting electronic waste. The company runs an online marketplace for used cell phones, which they buy, refurbish and resell for about half the cost of a new comparable phone. The company says it has diverted 65 tons of electronic waste from the landfill.

Trocafone’s latest $3 million in funding was provided by Mexico-based Pedralbes Partners and China-based electronics recycling company Aihuishou. The capital will be used to support Trocafone’s expansion from Brazil and Argentina to other Latin American markets.

In November, Mexican startup Rescata raised $2 million for its similar business model.

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