Refurbed, a Vienna-based firm, secures $57 million in a series C round of funding to grow its marketplace for reconditioned devices. Evli Growth Partners and C4 Group led Refurbed’s Series C fundraising round, with participation from All Iron Venture and Speedinvest.
The Viennese firm is taking on the electronics industry’s substantial environmental effect and working to get more useable technology to the hands of people who can most benefit from it.
The investment funding is intended to encourage growth and raise market awareness, as would be expected at Series C. functioning in Germany, Austria, Ireland, the Netherlands, Sweden, Denmark, and Italy.
In June of this year, Refurbed achieved a noteworthy milestone: selling over €1 billion worth of merchandise. Additionally, the company achieved profitability in its home and near-home markets of Austria and Germany in 2022, one year ahead of target.
Over the course of its six and a half years of operation, Refurbed, which is working together with the German research organisation Fraunhofer, claims to have prevented the accidental discharge of 160 tonnes of CO2e into the atmosphere, saved 34 billion litres of water from being used in the creation of new technology, and kept 495 tonnes of e-waste out of landfills and similar places.
Refurbed, company co-founder Kilian Kaminski said: “We are incredibly proud of our exceptional team, a mix of talent nurtured from within and experts we’ve brought in. Their dedication and passion have powered our remarkable journey, turning our dreams into reality. Equally, the network of, and close relationships with, our professional partners across Europe is crucial to supply high-quality, desirable products of multiple product categories.”
Among the top companies in Austria, Germany, and Switzerland, refurbed is the fastest-growing online marketplace for refurbished products in Europe, according to Kununu. Their 40-step refurbishment process makes their items show up and work like new, yet it’s more affordable and kinder to the environment than buying new.
Their 300-person team, spread across Europe, works to ensure that the future they leave for their children and the entire planet is better and more sustainable.