CompAsia, a Malaysia-based marketplace for used electronic devices, has received new undisclosed funding from a subsidiary of the venture capital firm Gobi Partners.

The injection came from Gobi Dana Impak Ventures and Khazanah Nasional Berhad, one of the largest sovereign wealth funds in the world, and owned by the government of Malaysia.

Established in 2012 by Julius Lim, CompAsia now operates in nine countries, including Malaysia, Singapore, Thailand and the Philippines. One of Asia’s leading device-focused fintech and solutions providers, it covers financing, device care, subscription, buyback and trade-in, retail and distribution services.

CompAsia had already received undisclosed series A funding in a round led by Gobi Partners in August, and is planning to invest the money to expand across “various touchpoints” and bolster its penetration in its newer markets.

Aside from its online operations, CompAsia has also launched a flagship store in the Sunway Pyramid shopping mall in Petaling Jaya (close to the Malaysian capital Kuala Lumpur) and is planning to open more branches across Klang Valley in the next few months.

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