Laku6, a used phones trading platform, has secured a seed round led by Golden Gate Ventures, according to an official release today by parent company Rebonics.
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.
Angel investors including Mountain SEA Ventures Managing Director Andy Zain participated in the round. The funding will be used to “grow the team, build inventory and boost promotional efforts”.
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.
Also Read: Huawei is selling more smartphones in Southeast Asia than ever
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