The French company Back Market, which is part of the refurbished technology market, arrived in Portugal. The startup allows, through a certification, its partners to place their products on its Marketplace. It currently has 1,500 partners, and has already totaled 1.5 million customers since 2019.
Last year, the company managed to reach a total financing of 120 million dollars, coming from Goldman Sachs, Aglaé Ventures and Eurazeo Growt. This year, it was again financed for a total of 276 million euros in Series D, where the main shareholders were General Atlantic, with the support of Generation IM and current investors Aglaé Ventures, Eurazeo, Goldman Sachs Growth Equity and daphni.
The products will be sold at discounts of between 30% and 70%, compared to the initial price and the initiative is environmentally friendly, as it fights waste and reduces pollution in one of the most polluting industries, as several materials are needed for be able to produce a device.
“Reconditioned products are the most economical and sustainable choice on the market and, betting on quality, we manage to make consumers increasingly value this alternative. Our goal is to make this technology sales model a first choice for reconditioned purchases, so that, environmentally, we can make a difference”, said Thibaud Hug de Larauze, CEO of Back Market, in a statement.
In Portugal, through the site, the brand indicates that the equipment sold was “checked, repaired and brought back to perfect working condition before being sold in the Back Market”.
The company is already in 14 countries, and in addition to arriving in Portugal, it will soon be present in Sweden, Slovakia and Canada.