Malaysia-based pre-owned electronics platform 3cat has secured $4 million in Series A funding in a round led by Foxmont Capital Partners, with the Asian Development Bank (ADB) and Golden Gate Ventures also participating. The financing will support the company’s entry into the Philippines, marking its first expansion outside Malaysia.
The fresh capital will help 3cat scale beyond its home market, where the company has evolved from an online operation into a retail network of more than 20 physical stores offering pre-owned smartphones and other electronic devices.
3cat aims to make secondhand electronics more appealing to mainstream consumers by combining device inspections, warranties, financing options and an omnichannel shopping experience.
The latest round follows the company’s previous fundraising. TNGlobal reported in June 2025 that 3cat had secured pre-Series A financing from The Radical Fund, AEON and existing investors including Iterative, TA Ventures and TheVentures.
Philippines selected for first overseas expansion
3cat has chosen the Philippines as its first international market, pointing to the country’s large mobile-oriented consumer population and the growing need for more affordable devices as smartphone prices increase.
The company cited third-party market data estimating that 18.4 million smartphones were sold in the Philippines during 2025.
3cat believes the concerns it has sought to address in Malaysia are also present in the Philippine secondhand electronics market. While consumers may be drawn to lower prices, uncertainty around device condition, authenticity and after-sales service can discourage purchases.
To address those concerns, the company combines device quality checks with a 12-month warranty, return options, in-store physical inspections and financing availability.
In Malaysia, 3cat said most purchases made at its physical stores also involve an online interaction during the customer journey. The company has integrated proprietary AI sales agents into parts of this process. It has not specified how much of its initial Philippine operation will rely on online sales compared with physical stores.
ADB investment provides room for future funding
The ADB’s public project database separately records an approved equity investment in 3CAT Holdings Pte. Ltd. covering operations in Malaysia and the Philippines. The project, approved on September 11, includes a $3.8 million equity facility from the ADB Ventures Investment Fund 2.
However, 3cat said ADB has also authorised another $2.8 million that could be made available in future funding rounds. As a result, the total value of ADB’s approved facility should not be interpreted as capital deployed entirely through the current $4 million Series A.
Foxmont Capital Partners, which led the financing, has developed a portfolio that includes businesses expanding into and from the Philippines. Golden Gate Ventures adds broader Southeast Asian investment experience, while ADB’s involvement brings a development-finance perspective focused on areas such as digital access and circular consumption.
Formalising the secondhand electronics market
The pre-owned electronics sector has traditionally been dominated by fragmented marketplaces, informal sellers and small-scale retailers. Companies such as 3cat are attempting to professionalise the market by introducing standardised grading, warranties and financing while extending the useful lifespan of electronic devices.
Scaling this model, however, will depend on reliable device sourcing, refurbishment standards and continued consumer trust. Its Philippine launch will therefore provide a test of whether 3cat can replicate the economics of its Malaysian operations while adapting to local prices, financing models, warranty expectations and competition within the secondhand electronics sector.
