Back Market secures £237 million in Series D funding

Back Market, an online marketplace dedicated to refurbished electronics, has announced a Series D round of £237 million led by General Atlantic.

This also had the support of Generation Investment Management, as well as existing investors Aglaé Ventures, Eurazeo, Goldman Sachs Growth Equity and daphni.

Launched in 2014, Back Market lays claim to nearly five million customers in the US, France, Germany, the UK, Italy, Spain, Belgium, Austria, the Netherlands, and more recently, Portugal, Japan, Finland and Ireland.

It employs 480 people across its four offices in New York, Berlin, Paris and Bordeaux.

Back Market’s CEO, Thibaud Hug de Larauze, says: “Our goal now goes beyond making renewed tech a viable option. We want to make it the first choice for electronics purchases.”

“The support and confidence of these prominent funds, together with our growing customer base, marks an important step in our journey, and more importantly for the refurbished sector as a whole.”

Chris Caulkin, Managing Director and Head of Technology for EMEA, General Atlantic, comments: “We are excited to support Back Market, a category defining business which is re-shaping and growing the refurbished electronics market globally.”

“It has built a strong consumer brand centred around quality, sustainability, convenience and affordability.”

“We look forward to working with the Back Market team as they accelerate their expansion into new categories and geographies”