Malaysia-based pre-owned electronics retailer 3cat has raised $4 million in a Series A round to enter the Philippines, betting that warranties and physical stores can persuade more consumers to buy second-hand devices.
Foxmont Capital Partners led the round, with participation from the Asian Development Bank (ADB) and Golden Gate Ventures.
The Philippines will be 3cat’s first market outside Malaysia.
Founded in 2023, 3cat has grown from an online business to more than 20 stores across Malaysia. It sells pre-owned devices that customers can inspect in-store, backed by quality checks, a 12-month warranty and a returns policy. The company also offers financing and uses AI sales agents to assist customers online.
“Trust is what makes this category scalable. We have spent the last three years building it deliberately, through the quality of the devices we sell, the warranties we stand behind, the stores we invest in and the market-leading experience we deliver at every customer touchpoint,” Karl Loo, CEO and co-founder of 3cat said in a statement.
3cat sees an opening in the Philippines as rising handset prices put new smartphones beyond the reach of some consumers. The company cited an estimate of 18.4 million smartphones sold in the country in 2025, nearly twice the volume in Malaysia.
Foxmont managing partner Jelmer Ikink said 3cat had built a retail model that could widen access to quality devices in the Philippines. ADB Ventures investment specialist Charles Navarro pointed to the potential to extend devices’ useful lives and reduce electronic waste.
The firm also said ADB has also authorised a further $2.8 million for possible future funding rounds of 3cat.
“3cat is helping build greater confidence in the second-hand device market by bringing clearer standards around quality, reliability and after-sales assurance,” said Charles Navarro, Investment Specialist, ADB Ventures.
“As the company expands in Malaysia and the Philippines, its model has the potential to help raise standards across the wider market while extending the useful life of devices. This will have a positive long-term impact on the local circular economy and contribute meaningfully to climate action and e-waste management.”
