refurbed closes $57 million Series C round led by Evli Growth Partners, C4 Ventures and Speedinvest
refurbed, a marketplace for refurbished and upgraded electronics, has announced a $57 million Series C investment led by existing backers Evli, C4 and Speedinvest, with participation from All Iron and several newcomers.
This brings the total investment since the company's inception in 2017 to $130 million, following seeding in 2018 at just under $2 million, a Series A in 2020 ($17 million), and Series B in 2021 ($54 million).
“This milestone not only marks a significant achievement for us, but also signals the wider market's shift towards embracing sustainability in consumer choices,” says Peter Windischhofer, Co-founder and CEO at refurbed.
“Our scalable business model enables us to both grow profitably and make consumption more sustainable. A win-win for us and our planet.”
refurbed has been focusing on expansion across Europe, including Italy, Sweden, Denmark, Ireland, the Netherlands, as well as Germany and Austria.
The Austrian born company says that, in its inaugural markets, Austria and Germany, it reached profitability in 2022, ahead of schedule.
Co-founder Kilian Kaminski comments: “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.”
“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.”
Riku Asikainen, Founder and Managing Partner at Evli Growth Partners, says: "We are thrilled to announce our participation and support for Refurbed in this $57 million funding round.”
“The exceptional team led by Peter Windischhofer, Kilian Kaminski, and Jürgen Riedl has demonstrated unparalleled dedication to advancing the circular economy in Europe. We are confident that this investment will propel Refurbed to even greater heights in the refurbished electronics market."
Boris Bakech, Managing Partner at C4 Ventures, adds: “Many founders looking to scale their companies are met with many hurdles and in light of the challenges many tech companies had to face in 2023, this proved to be a difficult year for many.”
“In this demanding environment, Refurbed not only thrived but also excelled within their sector while also keeping sustainability at the heart of every decision they made along the way. At C4 Ventures, we are excited and proud to play a part in refurbed’s promising journey.”
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