Refurbed is a European startup that sells refurbished electronics online
Refurbed is a European startup that sells refurbished electronics online, such as smartphones, laptops, tablets, and more. Refurbed claims that its products are up to 40% cheaper and 70% more sustainable than buying new devices. Refurbed also offers a 12-month warranty, a 30-day trial period, and free shipping and returns for its customers.
Refurbed was founded in 2017 by Peter Windischhofer, Kilian Kaminski, and Jürgen Riedl. The startup operates in 13 countries across Europe, including Germany, France, Italy, Spain, and Poland. Refurbed has over 5 million monthly visitors and more than 500,000 customers on its platform.
Refurbed raises $57 million in a Series B round led by Evli Growth Partners
Refurbed announced today that it has raised $57 million in a Series B round led by Evli Growth Partners, a Finnish venture capital firm. The round also saw participation from existing investors such as Almaz Capital, Bonsai Partners, All Iron Ventures, and FJ Labs. The new funding will help Refurbed expand its product categories, launch new services, and enter new markets.
According to Windischhofer, the CEO and co-founder of Refurbed, the company aims to become the leading marketplace for refurbished electronics in Europe. He said that the company has seen a strong demand for its products, especially during the COVID-19 pandemic, as people look for more affordable and eco-friendly options. He also said that the company wants to offer more value-added services to its customers, such as insurance, financing, and trade-in options.
Refurbed is part of the circular economy movement that promotes reuse and recycling
Refurbed is part of the circular economy movement that promotes reuse and recycling of products and materials, instead of disposing them after use. Refurbed works with certified refurbishers who restore and repair used devices to make them look and function like new. Refurbed also plants a tree for every device sold on its platform, in partnership with the non-profit organization One Tree Planted.
Refurbed claims that its products save up to 70% of CO2 emissions, 95% of water consumption, and 97% of waste generation compared to buying new devices. Refurbed also says that it has saved over 31,000 tons of CO2, 77 million liters of water, and 3,200 tons of electronic waste since its inception.
Refurbed is not the only player in the refurbished electronics market, as it faces competition from other platforms such as Back Market, Swappie, and Rebuy. However, Refurbed believes that it has a competitive edge in terms of quality, customer service, and sustainability.
