Praesidian Capital Europe and Connection Capital have announced an investment of £15 million ($24.5 million) in debt and equity in Redeem, a mobile and electronics recommerce specialist. Praesidian invested £7 million ($11.4 million) in debt capital and £1 million ($1.6 million) in equity, with £2 million ($3.3 million) available as an acquisition line of financing. Connection anted up £5 million ($8 million) of equity. Redeem currently operates in 23 countries across three continents, supplying a number of end markets like phone retailers and insurance companies with data-wiped, refurbished devices. Its revenues have grown at nearly 50% per annum compound over the last four years and are expected to reach £90 million ($146.7 million) in the current financial year.