Gobi leads Malaysian recommerce startup’s series A round

Photo credit: CompAsia

CompAsia, a Malaysia-based recommerce platform, has raised series A funding in a round led by Gobi Partners. The amount is undisclosed.

The company runs a one-stop platform for customers to trade in or purchase secondhand electronic devices. It plans to use the funds to expand across “various touchpoints” and bolster its penetration in its newer markets.

Along with its native Malaysia, it also operates in Singapore, Thailand, the Philippines, and Indonesia.

“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.

In addition, the company will be “rolling out our device financing and device care programs across multiple major retailers.”

Aside from its online platform, CompAsia recently launched a flagship store at the Sunway Pyramid shopping mall in Petaling Jaya. The startup plans to open more branches across Klang Valley by the end of the year.

Founded in 2016, CompAsia said it has sourced and transacted over 2.1 million secondhand mobile devices from 2019 to 2022.

See also: Niche recommerce takes the fight to Carousell in SEA