Back Market, the French specialist in the resale of refurbished products online, has just announced a new fundraising of 450 million euros.
The funding round made with Sprints Capital, Eurazeo, Aglaé Ventures, General Atlantic and Generation Investment Management, values the start-up 5.1 billion euros.
That is a valuation 3.2 times higher than the current market capitalization of Fnac-Darty.
Read alsoOffer a refurbished smartphone for Christmas?
What to know before starting
Back Market is riding the trend of refurbished products, smartphones, tablets, PCs, but also cameras, drones ... nothing escapes it.
The start-up has established itself in the landscape as a key player in refurbished, a booming sector.
Buying a product that has been restored to working order has many advantages.
First of all, it reduces the environmental impact.
It also generates jobs and allows consumers to save money compared to buying a new product, but without the uncertainties associated with the occasion.
A sector of the future
Concerned about preserving its brand image and positioning itself as an environmentally friendly company, Back Market highlights its involvement in the European ecosystem. “
78% of the 1,500 partner sellers on its platform are European, 4% are Asian and 18% American. Back Market is now working with 650 French companies which are helping to create thousands of jobs in France, particularly
in their region - from Hérault to Hauts-de-France, via Aquitaine and France. Brittany
”, specifies Back Market, highlighting the importance of the sector for“
the reindustrialisation of France
”.
With this new round of funding, Back Market wants to develop new services around logistics and repair.
It also wants to continue to develop industrial expertise "
for the benefit of partner vendors such as the sourcing of devices and spare parts, test protocols, R&D
".
A helping hand is essential to French reconditioned manufacturers, while relations are sometimes strained between the market place and sellers.
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