Malaysia-based pre-owned electronics platform 3cat has raised a $4 million Series A round led by Foxmont Capital Partners, with participation from the Asian Development Bank (ADB) and Golden Gate Ventures, as it prepares to enter the Philippines as its first international market.
The company said the funding will support its expansion beyond Malaysia, where it has grown from an online business into a network of more than 20 physical stores selling pre-owned smartphones and other electronics. 3cat positions its model around device quality checks, warranties, financing and an omnichannel retail experience intended to make secondhand electronics a more mainstream option.
The round builds on 3cat’s earlier financing. TNGlobal reported in June 2025 that 3cat had raised a pre-Series A round backed by The Radical Fund, AEON and returning investors including Iterative, TA Ventures and TheVentures.
Philippines becomes first overseas market
3cat said the Philippines was selected as its first international expansion market because of the country’s large mobile-first consumer base and demand for more affordable devices as smartphone prices rise. The company cited third-party market estimates that 18.4 million smartphones were sold in the Philippines in 2025.
The business is betting that the same trust problem it targeted in Malaysia exists in the Philippines: consumers may be attracted to lower prices in the secondhand market but remain concerned about device condition, authenticity and after-sales support. 3cat said its proposition combines quality assessment with a 12-month warranty, return policies, physical inspection in stores and access to financing.
The company also said most of its in-store transactions in Malaysia include an online touchpoint, with proprietary AI sales agents used within parts of the customer journey. It did not disclose how much of the Philippines rollout will initially be online versus physical retail.
ADB approval points to additional capital capacity
ADB’s public project database separately lists an approved equity investment in 3CAT Holdings Pte. Ltd. covering Malaysia and the Philippines. The project, approved on September 11, lists a $3.8 million equity facility from the ADB Ventures Investment Fund 2.
3cat said in its announcement that ADB has authorized a further $2.8 million for potential future funding rounds. That means the full amount in ADB’s approved facility should not be read as funding deployed entirely in the current $4 million Series A.
Foxmont Capital Partners, which led the round, has been building a portfolio around companies expanding into or from the Philippines. Golden Gate Ventures brings a broader Southeast Asian venture portfolio, while ADB’s participation adds a development-finance angle around digital access and circular consumption.
Used-device market shifts toward formal retail
Pre-owned electronics have traditionally been fragmented across marketplaces, informal sellers and small retailers. Platforms such as 3cat are trying to formalize the category by adding warranties, grading standards and financing while extending the usable life of devices.
The model still depends on consistent sourcing, refurbishment quality and consumer confidence. Expansion into the Philippines will test whether 3cat can reproduce the economics of its Malaysian network while adapting to local pricing, financing, warranty expectations and competition in the secondhand device market.
Malaysia’s 3cat raises Pre-Series A funding to scale omnichannel circular electronics platform