Refurbed rasies $54 million, plans further expansion

 

Refurbed, an online marketplace for refurbished electronic devices in Europe, which recently launched an online store for Ireland, has raised $54 million in a Series B funding led by Evli Growth Partners and Almaz Capital.

As part of its international expansion strategy as a result of this funding, the company plans to increase its presence in Ireland and said it will contribute €10m towards its market growth here.

Refurbed also operates in Germany, Austria, France, Italy and Poland - with three other countries to be branched out to until the end of 2021.

The company has over 11,000 listed products on its marketplace from over 130 merchants and currently employs more than 120 people.

To-date, Refurbed has sold over 800,000 products through its platform, planting one tree in Haiti, Madagascar, Kenya, Indonesia, Mozambique or Nepal for every device sold.

"We founded Refurbed with a mission to get at least one refurbished device into every household in Europe, thus changing the way we consume electronic devices as a society," said Peter Windischhofer, co-founder of Refurbed.

"We're extremely proud of the results we were able to achieve thus far and are set to keep on growing internationally to become the Amazon for refurbished products in Europe," he added.

Evli Growth Partners and Almaz Capital are joined by existing investors such as Speedinvest, Bonsai Partners and All Iron Ventures, as well as a group of new backers - Hermes GPE, C4 Ventures, SevenVentures, Alpha Associates, Monkfish Equity, Kreos Capital, Isomer Capital and Creas Impact Fund.