Refurbed, the marketplace for refurbished electronics, household, and sports products, has raised 50 million euros for further European expansion. The fast-growing and profitable company seems to be preparing for an entry into the United Kingdom.
Refurbed is an exponent of the growth of the European recommerce market. Founded in 2017, the company has already received several capital injections for further growth in both product categories and markets: the marketplace is now active in Belgium, the Czech Republic, Denmark, Finland, Germany, Ireland, Italy, the Netherlands, Portugal, Sweden, and Switzerland, in addition to its home market in Austria.
European expansion
“The next phase of European expansion” has begun, according to Refurbed, although they did not specify in their own communication. It seems that the marketplace is preparing to launch in the United Kingdom, as reported by several international media outlets. In its press release, the company shared concrete results for Ireland, where Refurbed has sold over 300,000 items since its launch in 2021 and has reached over 200,000 customers. Other large ecommerce markets where Refurbed is not yet active are France and Spain.
‘Accelerating momentum of the circular economy’
Regarding the new funding round, Refurbed writes: “Less than two years after its Series C, this new round highlights the accelerating momentum of the circular economy while strengthening Refurbed’s position as a leader in Europe’s fast-growing refurbishment market.” The growth capital comes from new investors such as Alex Zubillaga and Orilla, who are involved in companies like Spotify and Vinted, respectively. Existing shareholders are also participating.
40 percent growth and profit
In the previous funding round, Refurbed reported having transacted a total of 1 billion euros worth of goods since its inception. This GMV (gross merchandise volume) is expected to be achieved in a single calendar year by 2025.
Refurbed’s GMV is approaching 1 billion euros this year
Co-founder and CEO Peter Windischhofer describes 2025 as “another exceptional year”, citing: “Profitability in March, 40 percent year-on-year sales growth, and leveraging AI across our revenue-generation machine. All of this fueled our funding round and accelerated our expansion plans.”
Recommerce exponents
The European recommerce market is estimated to be worth well over 100 billion euros and is growing faster than the overall ecommerce market. Vinted, Back Market, and Rebuy are other dedicated second-hand platforms that are successfully expanding internationally in this space.
