RecycleBank Raises Additional $28M for Recycling Incentives

Nov 4 2009 | 6:26pm ET

Philadelphia-based RecycleBank, which teams with municipalities to provide incentives for residential recycling, has banked another $28.25 million, according to an SEC filing.

In separate news, RecycleBank also announced a partnership with the re-commerce firm Kashless.org to create the Kashless Rewards program for consumers recycling items online. The value of this deal has not been disclosed.

Founded in 2004, RecycleBank (a subsidiary of Recycle Rewards) has raised more than $73 million, with investors including RRE Ventures, Sigma Partners, Kleiner Perkins and the Westly Group. RecycleBank plans to award recycling points that can be redeemed for discounts or gift cards or donated to charities and other groups.

Municipalities involved in the RecycleBank program pay the company a portion of the money they save on landfills. Residents get special bins with RFID tags so recycling trucks can identify each customer, weigh the contents of the bin, and award points accordingly.

Kashless Rewards is an extension of this plan: users will earn points for posting items for reuse on the online marketplace. The points can be redeemed through RecycleBank’s program


In Depth

Debunking Conventional Investment Wisdom

Feb 8 2017 | 3:22pm ET

Due diligence in the hedge fund world has long involved some combination of the...

Lifestyle

'Tis the Season: Wall Street Holiday Parties Back In Fashion

Dec 22 2016 | 9:23pm ET

Spending on Wall Street holiday parties has largely returned to pre-2008 levels...

Guest Contributor

iCapital Network: The Trump Effect On Direct Lending

Feb 23 2017 | 4:21pm ET

The arrival of the Trump Administration has raised questions among private debt...

 

From the current issue of