Back Market, a French marketplace dedicated to refurbished electronic products and appliances (smartphones, tablets, laptops, and other products), closed a funding round totaling $48m.
Backers included Groupe Arnault, Eurazeo, Aglaé Ventures and Daphni.
The company, which has now raised $55m in total funding, intends to use the capital to accelerate global expansion startuing with the USA.
Launched in 2014 by Thibaud Hug de Larauze, Quentin Le Brouster, and Vianney Vaute, Back Market provides a marketplace of refurbished products which allows consumers to purchase electronics directly from certified refurbishers, distributors and big brands that refurbish, verify and offer a minimum 6-month warranty to all of their products.
The company currently operates in 5 European countries (France, Germany, Italy, Spain and Belgium) and launched in the United States in the beginning of the year. Back employs a team of about 100 employees across its 3 offices located in Paris, Bordeaux, and New York.