The Vienna-based start-up achieved 40pc year-on-year sales growth with its refurbished tech.
Refurbed, the online marketplace for refurbished electronics, has raised €50m in its latest funding round.
The Vienna-headquartered company will use the funding to invest in AI-driven solutions to improve efficiency and customer and seller experiences.
The round was led by Alex Zubillaga, who has previously backed Spotify, Fever and Wallapop, as well as Orilla investment platform and existing shareholders, including Evli Growth Partners, Bonsai, Almaz, C4 Ventures and Speedinvest.
The company said that the success of the new round highlights the accelerating momentum of the circular economy in Europe.
Founded in 2017 by Peter Windischhofer, Kilian Kaminski and Jürgen Riedl, Refurbed employs about 300 people. It offers professionally refurbished and more sustainable products, including smartphones, laptops, e-bikes, sports accessories and household appliances.
It currently operates in 12 countries: Ireland, Austria, Denmark, Germany, Italy, Sweden, the Netherlands, Belgium, Finland, the Czech Republic, Switzerland and Portugal.
In 2023, Refurbed raised $57m in a Series C investment round led by Evli Growth Partners and C4 Ventures. That year, it expanded its Irish services into the business market with a new offering for bulk purchases.
In 2021, it raised $54m in a Series B round, having launched in Ireland in March of that year.
“This was another exceptional year,” said Windischhofer, who is also company CEO. The company achieved 40pc year-on-year sales growth.
“We proved that doing good and doing well aren’t opposites: they’re the same playbook. Now is the time to make refurbished mainstream.”
Speaking to SiliconRepublic.com previously, Windischhofer explained that the idea for the company came after he had a bad experience when purchasing a second-hand device. “Soon after I bought this device it broke and I was left with nowhere to go as it came with no warranty,” he recalled.
“I did not want other consumers to go through this so I decided to act on this misfortune and come up with an idea on how to prevent scenarios like this one while also being environmentally friendly.”
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