3cat, a Malaysia-based seller of pre-owned electronics, said on September 23 that it raised US$4 million in a series A round led by Foxmont Capital Partners to support its planned expansion into the Philippines.

The Asian Development Bank, and Golden Gate Ventures, also joined the round.

Separately, ADB authorized another US$2.8 million for future funding rounds, according to 3cat.

Founded in 2023, 3cat said it operates more than 20 stores in Malaysia and sells used devices online and in stores.

The company identified Karl Loo as a co-founder in a company video, and the funding announcement named him CEO and co-founder.

Foxmont’s public portfolio says it backs Philippine startups, offering local market context for 3cat’s planned entry.

3cat cited Euromonitor data showing that 18.4 million smartphones were sold in the Philippines in 2025, as rising handset prices put pressure on affordability.

🔗 Source: 3cat