Austria-based Refurbed, which sells reconditioned electronics and home appliances, has raised $57.0 million U.S. in a Series C funding round, bringing its total funding to date to $130 million.
According to an announcement from the company, the round was led by existing investors Evli, C4 and Speedinvest, with a number of new backers, such as All Iron, also participating.
Refurbed plans to use these funds to improve its customer experience service, expand its product assortment and scale the impact of its sustainability projects.
“This milestone not only marks a significant achievement for Refurbed but also signals the wider market’s shift towards embracing sustainability in consumer choices. Our scalable business model enables us to both grow profitably and make consumption more sustainable. A win-win for us and our planet,” said company CEO and co-founder Peter Windischhofer.
“Our vision is to increase consumers’ trust in refurbished products. Refurbishment must become the ‘new normal,’ and we as consumers must rethink our consumption in order to reduce the impact on the environment,” co-founder Kilian Kaminski added.
Founded in 2017 and headquartered in Vienna, Refurbed also operates in Germany, Sweden, Italy, Denmark, the Netherlands and Ireland. According to the company, its cumulative gross merchandise value reached €1.0 billion in June this year.