ecoATM Grabs $40 Million In Debt Financing To Expand Nationally

What's Next In Payments®
3:47 PM EDT February 7th, 2013

EcoATM has announced that it’s secured $40 million in debt financing form Falcon Investment Advisors to help its nationwide expansions, according to TechCrunch. The San Diego-based company produces terminals that accept used mobile devices and tablets and provide consumers with cash in return.

There’s still a large percentage of the country that doesn’t have access to a convenient recycling solution for their mobile phones and other personal portable electronic devices,” said CEO Tom Tuille. “We raised this money to help us deploy ecoATMs nationwide and help people recycle their old phones, tablets, or MP3 players, regardless of where they live.”

The startup has hone from 50 kiosks to 300 across 20 states in the past year, and hopes to add another 600 or 700 kiosks in 2013.

Read the full story here.

Topics:
Comments
Also by This Author
What's Hot
Alternative Financial Services
Walmart Unveils Walmart-2-Walmart Money Transfer Service
Merchant Innovation
Home Depot’s eCommerce Renovation Project
Company Spotlight
Australia-based Pinpoint To Be Purchased By MasterCard
News
AmEx Posts Higher Profits As Spending Ticks Up In Q1 2014
View All Articles ››
You May Also Like
Company Spotlight
Different mPOS Strokes for Different mPOS Folks
International
Digital River Offers A Sneak Peak At Mobile eCommerce Trends
Mobile Commerce
Trustwave Buys Cenzic To Beef Up App Testing Capability
Alternative Financial Services
Walmart Unveils Walmart-2-Walmart Money Transfer Service
B2B Payments
Moving Money Cross Border via an API?
B2B Payments
The SMB Lending Outlook
Merchant Innovation
Home Depot’s eCommerce Renovation Project
View All Articles ››