🥇Back Market hits $5.7bn valuation!
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.”
Congratulations to Back Market team for that incredible achievement, you guys rock!