Back Market raises $335M for its reconditioned device market, now valued at $3.2 B

Back Market raises $335M for its reconditioned device market, now valued at $3.2 B

French start-up Back Market — — a marketplace for refurbished electronic devices products — — has actually raised a $335 million Series D financing round led by General Atlantic. Today’s financing round values the startup — — which says it now has 5 million consumers globally — — at $3.2 billion, the company stated. It will be utilizing the funding to […] “Back Market’s transparent and trusted approach empowers consumers to change their buying habits by making it simpler, safer and more budget friendly to buy refurbished items,” included Shalini Rao, Director of Growth Equity, Generation Investment Management, in a statement. Back Market doesn’t recondition gadgets directly. That is in essense the “marketplace” of Back Market (which is not a black market after all however just a play on the concept). While Back Market initially started in Europe, it is now active in 13 different markets consisting of the U.S. and Japan.”We are excited to support Back Market, a category-defining business which is re-shaping and growing the refurbished electronics market globally,” stated Chris Caulkin, Managing Director and Head of Technology for EMEA, General Atlantic, in a statement….

Back Market raises $120 million for its refurbished device marketplace

Back Market raises $120 million for its refurbished device marketplace

French startup Back Market has actually raised a new $120 million financing round from Goldman Sachs, AglaĆ© Ventures and Eurazeo Growth. The business runs a market for reconditioned electronic devices and mobile phones gadgets. Back Market does not recondition devices in home. Rather, it partners with licensed sellers and let them note their items on the website. The startup […] There are now 1,000 accredited sellers utilizing Back Market to sell reconditioned goods. In other words, repair used to be a fragmented market and Back Market is aggregating offer and demand on a single online platform. …