The investment, whose value was undisclosed, will see Golden Gate Ventures Founding Partner Jeffrey Paine join Laku6 as a board member.
“Laku6 is positioned for growth in emerging markets where increasingly more people are looking to upgrade from their first basic smartphones to something better, and buying pre-owned [phones] is an affordable solution,” said Paine.
Laku6 sells ‘certified’ used phones online in Indonesia — a market that lacks benchmarks on pricing and condition. The service operates by cash-on-delivery and offers a 30-day-guarantee on phones.
Its Co-founders are Alvin Yap and Heng Shing Kae, who are the CEO and CTO respectively.
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