Refurbed receives 54 million euros in Series C investment round

Refurbed has raised 54 million euros in its Series C investment round and is consolidating its position as a marketplace for remanufactured electronic products in Europe.

Vienna - The Austrian company Refurbed has raised 54 million euros in its Series C investment round. Investors include Evli Growth Partners, C4 Ventures, All Iron Ventures and Speedinvest, along with new backers. This financing round brings the total investment since the company was founded in 2017 to 116 million euros. Refurbed is an online marketplace for refurbished products in German-speaking countries and offers products with at least twelve months warranty.

Our scalable business model enables us to both grow profitably and make consumption more sustainable. This is what the future of sustainable business looks like for us.

Peter Windischhofer, co-founder and CEO of refurbed

Refurbed, which specializes in the sale of remanufactured electronic products, is thus continuing its expansion and strengthening its position in this market segment. The company has seen solid growth in recent years and achieved profitability in Austria and Germany ahead of schedule in 2022. The company's valuation has doubled since 2021 and sales have exceeded the €1 billion mark, making Refurbed one of the leading online marketplaces for remanufactured products in Europe.

We are confident that this investment will bring refurbed even more growth and market share in the remanufactured electronics segment.

Riku Asikainen, Founder and Managing Partner of Evli Growth Partners

The fresh funds from the Series C investment will be used to expand Refurbed's product offering, drive growth in core markets and improve the user experience. The company intends to promote the circular economy in Europe.

Refurbed's founders emphasize the importance of sustainability and hope to establish refurbishment as a common practice. With a strong team and a close network of partners, they have achieved success in this area. Investors Evli Growth Partners and C4 Ventures support Refurbed's efforts to promote the circular economy and believe that this investment will enable further growth in the remanufactured electronics market.

A study in collaboration with Fraunhofer Austria shows that Refurbed has already had a positive impact on the environment by saving over 160,000 tons of CO2, 34 billion liters of water and 495 tons of e-waste since it was founded in 2017. The company has been recognized for its sustainability efforts and has received the Tech Tour Growth50 Sustainability Award. The founders were also recognized as "EY Entrepreneur of the Year 2023".