This startup is going from strength to strength and were ecently awarded the EY Entrepreneur of the Year Award.
This Vienna-based trading platform refurbed, which specializes in refurbished products, has a fresh 54 million euros on board in a new round of financing fetched.
The round is led by Evli Growth Partners and C4 Ventures, which have invested in previous rounds. All Iron Venture and Speedinvest are also there. The last round of financing raised 45 million euros. Even if the scale-up is being traded as the next Austrian unicorn, it is not there yet, even if the valuation is said to have doubled compared to the last round.
After exponential growth, refurbed has already achieved profitability in Austria and Germany in 2022 and will be profitable as a company by the end of the year. The company valuation set in 2021 has been doubled to date.
With external sales of more than 1 billion euros since its founding, refurbed is one of the fastest growing online marketplaces for refurbished products in all of Europe.
-The investment will be used to expand the refurbed marketplace offering, further growth in core markets and the continued optimization of the user experience - thereby serving the company's mission to establish a circular economy in Europe.
This Series C investment increases the total investment including seed financing since the company was founded to almost 116 million euros (130 million US dollars). The considerable investment volume is confirmation of refurbed's successful path, with the aim of becoming the world's leading marketplace for refurbished electronic products in all areas of life, living and working and of offering consumers a purchasing experience in a simple, risk-free and more sustainable way the local young company on Tuesday.
Refurbishment must become the “new normal”.
"This milestone not only marks a significant achievement for refurbed, but also signals the broader market's shift towards accepting sustainability in consumer decisions," said Peter Windischhofer, co-founder and CEO of refurbed, about the Series C investment round. The scalable business model would make it possible to both grow profitably and make consumption more sustainable.
“This is what the future of a sustainable economy looks like for us,”
says Windischhofer.