Austrian online marketplace for refurbished products Refurbed secures €54M; surpasses €1B in GMV

Vienna-based Refurbed, the online marketplace for refurbished products such as smartphones, tablets and laptops, announced that it has secured €54M in a Series C round of funding.

The investment was led by existing investors Evli, C4 and Speedinvest, with participation from All Iron and several new backers. 

This funding brings Refurbed’s total raised capital since its inception in 2017 to €115.8M. Prior to this round, the company raised €1.8M in a Seed round, €13M in a Series A round, and €47M in a Series B round.

Refurbed also reports that it achieved €1B in Gross Merchandise Value (GMV) in June 2023, since its founding.

Online marketplace for refurbished products

Founded in 2017 by Peter Windischhofer, Kilian Kaminski and Jürgen Riedl, Refurbed is an online marketplace for refurbished products in Ireland and claims to be the fastest-growing in the entire DACH region.

The platform offers over 18,000 fully refurbished electronic devices, including smartphones, laptops, and tablets, with a minimum 12-month warranty.

Co-founder Kilian Kaminski says, “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,” adds Kaminski.

Capital utilisation

Refurbed will use the funds for its mission of becoming a leading platform for sustainable products, enabling consumers to buy refurbished technology in an accessible, risk-free, and eco-friendly way.

Co-founder Peter Windischhofer says, “This milestone not only marks a significant achievement for Refurbed but also signals the wider market’s shift towards embracing sustainability in consumer choices.”

“Our scalable business model enables us to both grow profitably and make consumption more sustainable. A win-win for us and our planet,” adds Windischhofer.

Brief about the lead investors

Helsinki-based Evli Growth Partners (EGP) is a later-stage venture capital firm focusing on Series A and Series B investments in European companies. The EGP team has been involved in over 200 companies, with combined exits worth billions of euros.

C4 Ventures is a European venture firm founded by former Apple and Microsoft executives. It supports tech entrepreneurs with funding and expertise. The firm acts as a lead investor in early-stage companies and a strategic co-investor in growth-stage firms.

C4 Ventures’ strategy is based on its expertise in three major themes: Smart Hardware, Future of Commerce and Future of Work. Since its inception in 2014, C4 Ventures has backed over 45 companies of which 9 became unicorns.