If you’ve tried selling your old smartphone on a refurbishment website, chances are you ended up with a dozen browser tabs comparing prices. French startup Back Market is taking advantage of this fragmented industry to create a marketplace and aggregate all refurbishers on a single online platform.
The startup just raised $48 million (€41 million). Groupe Arnault, Eurazeo, Aglaé Ventures and Daphni participated in today’s funding round.
Back in May, the company told me that it was working with over 270 factories. Back Market has generated over $110 million in gross merchandise volume over the past three years. The service is now live in France, Germany, Spain, Belgium and Italy. The company just expanded to the U.S.
“Before, refurbishment was just a thing for tech savvy…