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Kashless, a company founded by Martin Tobias, the former CEO of large biodiesel company Imperium Renewables, isn’t ready to come out of stealth mode yet. But a few details have emerged on the company, including a $5 million investment found out by peHUB.

The idea behind the company seems to be a website on which users can get rid of old possessions in cash-free transactions with other users, thus helping keep waste down. However, Tobias has said little, so even those details are uncertain.

The company is based in Seattle, Wash. The funding, its first, was led by RRE Ventures.

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