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SAO PAULO, March 2018 - Pedralbes Partners is has closed its investment in Trocafone, the leading re-commerce platform for used smart-phones in Latin America, co-investing in a US$15.5m Series B round to finance the expansion of its operations in Brazil and Spanish speaking Latam.

Trocafone was founded in 2014 in Sao Paulo by two Argentine entrepreneurs and has become the leading platform to buy and sell used mobile smart phones in Brazil and recently Argentina and has sold over 410,000 phones since inception.

The Company pursues an own­brand business model based on three pillars: i) purchase used mobile inventory at scale via outlets of exclusive trade­in partners (retailers, carriers and OEMs); ii) manage reverse logistics and repair faulty handsets in-house with a team of dedicated technicians; and iii) sell used phones using an omni-­channel strategy (mainly via its own website and currently rolling-out retail kiosks).