ReCellular raises $15 million in a Series A funding

ReCellularThe world’s leading mobile phone recycling firm, ReCellular, has recently announced that Investor Growth Capital (IGC) is investing $15 million in a Series A Preferred Stock financing.

ReCellular plans to use the new money to expand the reach and impact of the company. Among other initiatives, ReCellular plans to:

  • Expand operations, opening new office facilities, consolidating processing facilities, and significantly increasing the number of Michigan employees
  • Rapidly increase phone collections, focusing on direct-to-consumer and trade-in partnerships, and building consumer awareness of the benefits of cell phone recycling
  • Evaluate strategic acquisitions of other electronics recycling businesses that could complement ReCellular’s expertise and operations

During the the past eight years, ReCellular’s revenues have increased an average of 25%. Today, the company is the leading collector, recycler and refurbisher of mobile phones in the world. This year, ReCellular is on track to process more than 6 million phones.

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