Today Back Market collects 110 million euros

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The online marketplace for processed electronic and electrical devices, Back Market, has collected 110 million euros in a current financing round. Investors include Goldman Sachs, Aglaé Ventures and Eurazeo Growth.

Back Market, has collected 110 million euros in a current financing round. 

The market place for processed electronics products, Back Market, has collected 110 million euros in a Series C financing round. Investors include Goldman Sachs, Aglaé Ventures (the venture arm of Groupe Arnault) and Eurazeo Growth.

The new capital will use the self-proclaimed "green e-commerce platform" to further expand its market position in Germany and to drive its expansion in the DACH area. Previously, Back Market had completed two rounds of funding totalling EUR 48 million through Aglaé Ventures, Eurazeo Growth and Daphni.

Fast-growing refurbished industry !

"Financing is a definite signal of maturity, not only for the back market, but also for the rapidly growing refurbished industry," commented Thibaud Hug de Larauze, CEO and co-founder of Back Market.

About five years ago, Back Market in France became an online marketplace, focusing on the sale of used and reprocessed electronic and electrical appliances (refurbished). Meanwhile, Back Market is active in seven countries - including Spain, the United Kingdom, Belgium, and the United States. The platform has been available in Germany since 2016 and in Austria since the beginning of 2020.

In addition, the opening of an office in Berlin is planned for later this year in order to be able to speed up the expansion. From there, the expansion in Austria will also be further controlled.

More quality control :-

The French start-up plans to transfer a further proportion of the investment into quality control. Specifically, the team will be tripled in this area.
In addition, Back Market intends to use a machine learning unit to improve its own algorithm, introduce new logistics and repair services, as well as its own know-how in reprocessing (procurement of devices, spare parts, test protocols, etc.) for the benefit of its sellers.