Back Market raises funds for electronics refurbishing service

The New York office of Back Market, headquartered in Paris, says the company has closed an investment round of $510 million, which follows a May 2021 $335 million Series D fundraising round for the self-described provider of refurbished electronic devices and appliances to customers in 16 countries.

More than $1 billion has been invested in Back Market since it was founded in 2014, the company says, adding, “this funding milestone builds on the growing preference among consumers for more sustainable tech purchasing options.”

Back Market and its founders Thibaud Hug de Larauze, Quentin Le Brouster and Vianney Vaute say their mission is to make refurbished electronics the first choice for tech purchases and that renewed electronics are “more affordable and better for the environment than new.”

The firm says it offers its refurbished electronic devices and appliances to customers in the United States, France, Germany, the United Kingdom, Italy, Spain, Belgium, Austria, the Netherlands, Portugal, Japan, Finland, Ireland, Greece, Slovakia and Sweden. Black Market says it has a team of 650 employees in four offices in New York, Berlin and Paris as well as Bordeaux, France.

Among recent investors in Back Market are London-based Sprints Capital, Paris-based Eurazeo, Paris-based Aglaé Ventures, New York-based General Atlantic and San Francisco-based Generation Investment Management.