Austrian Refurbed raises $57M in Series C funding round
07 November, 2023, 12:20
- Refurbed was launched in 2017 in Vienna by Peter Windischhofer, Kilian Kaminski, and Jürgen Riedl. The company provides online marketplaces for refurbished tech in Europe, offering more than 18 million products, including smartphones, laptops, and tablets.
- Operating in Italy, Sweden, Denmark, Ireland, the Netherlands, as well as Germany and Austria, Refurbed reached €1 billion in GMV (gross merchandise value) in June 2023. In addition, it has achieved profitability in its home and near-home markets of Austria and Germany in 2022.
“Our vision is to increase consumers’ trust in refurbished products. Refurbishment must become the “new normal”, and we as consumers must rethink our consumption in order to reduce the impact on the environment.”co-founder of Refurbed, Kilian Kaminski said.
- The fresh round was backed by existing investors Helsinki-based Evli Growth Partners, a later-stage VC, investing in Series A & Series B with initial investments of 3-5 million, and C4 Ventures, a venture firm led by former Apple and Microsoft executives. Speedinvest, All Iron, and several new backers also joined.
- The Series C round brings the total investment since the foundation to $130 million, following a $2 million seed round in 2018, Series A in 2020 ($17 million), and Series B in 2021 ($54 million). With the investment, refurbed will continue to expand its platform across Europe.