Gobi led undisclosed Series A funding raised by recommerce platform CompAsia
The series A funding round for CompAsia, a Malaysia-based recommerce platform, was led by Gobi Partners. The sum is not made public.
Customers can buy or trade-in used electronic devices on the company’s one-stop marketplace. It intends to use the money to increase its footprint across “various touchpoints” and deepen its market penetration.
It also has operations in Singapore, Thailand, the Philippines, and Indonesia in addition to its home country of Malaysia.
“We have recently partnered with a number of major telcos around the region to assist in running their buyback and trade-in programs,” said Julius Lim, CompAsia’s founder and CEO, in a statement.
The business will “roll out our device financing and device care programs across multiple major retailers,” as well.
CompAsia recently opened a flagship store at the Sunway Pyramid shopping center in Petaling Jaya in addition to its online platform. By the end of the year, the startup intends to add more branches throughout Klang Valley.
From 2019 to 2022, according to CompAsia, which was founded in 2016, over 2.1 million used mobile devices were sourced and traded.
