🥇Back Market hits $5.7bn valuation!

🥇Back Market hits $5.7bn valuation!

🥇Back Market hits $5.7bn valuation!

Folks, we have incredible news to share with you! 

We are extremely proud to announce that Back Market has raised a $510 million Series E, becoming the most valued French unicorn ($5.7bn)! 💥

After crazy adventures in 2021, we knew that 2022 was going to be exciting but little did we know that it would happen so early! 

Only 6 months after their last round, Back Market continues to grow exponentially and to attract investors in order to conquer new markets, mainly the US 🇺🇸 and Japan 🇯🇵 

It all started with a strong conviction: providing customers with the best refurbishment services as it goes against mass-consumption ♻️ It also shows that building a huge company with global ambitions is absolutely compatible with sustainable matters and circular economy. And it goes without saying that it matches our motto “build da city for good”. Have a look at our article which gathers the reasons why we invested in Back Market.

Back Market’s co-founder and CEO, Thibaud Hug de Larauze, explains:

“Our goal is to make refurbished electronics the first choice for tech purchases. We expect to see a similar development in the electronics market as we have witnessed in the pre-owned car market in America, where consumer confidence in buying second-hand vehicles has resulted in sales that have increased twofold compared to new car sales. ​​​​​The support and confidence of these funds, together with our growing customer base, marks an important step in Back Market’s journey, and more importantly, for the circular economy as a whole.”

We are very honored and proud to support outstanding founders such as Thibaud Hug de LarauzeVianney Vaute, and Quentin Le Brouster👏🏼👏🏼👏🏼 

Congratulations to Back Market team for that incredible achievement, you guys rock! 

Da yours,

The daphni team 👾

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