European refurbished electronics marketplace Refurbed raises $54M Series B ' TechCrunch

Refurbed, an European marketplace for refurbished electronic products, has raised a $17 Million Series A round of financing last year. Now, it has raised $54 Million Series B funding from Almaz Capital and Evli Growth Partners.Speedinvest, Bonsai Partners, and All Iron Ventures are among the existing investors. A group of new backers, Hermes GPE and C4 Ventures, SevenVentures and Alpha Associates, Monkfish Equity, Trivago Founders, Monkfish Equity, Creos, Expon Capital and Isomer Capital join them.Refurbed is an online marketplace that sells refurbished electronics. All items are tested and then renewed. These are typically 40% cheaper than new and come with a 12-month warranty. According to the company, its GMV grew 3x in 2020 and it reached over 100M.The startup operates in Germany, Austria and Ireland, France, Italy, France, Italy, Poland, and plans to expand its operations to three additional countries by 2021.Riku Asikainen, Evli Growth Partner said: We see huge potential in the way that refurbed contributes towards a sustainable and circular economy.Peter Windischhofer (co-founder of refurbed) told me that we are more affordable and offer a wider range of products, while still focusing on quality. So we sell products that look brand new and have happy customers who recommend us to others. Refurbished products make people proud.It has 130 refurbishers who sell through its marketplace.Back Market (raised 48M), Swappa US, and Amazon Renew are other players in this space. Refurbed competes also with Swapbee and Rebuy in Germany.