附近上门

Refurbished electronics reselling platform has raised $120 million in a new round of funding, the company announced early Tuesday.

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The Paris-based company hosts an online marketplace for refurbished electronics with a minimum of a 12-month warranty. Sellers are all registered businesses, not individuals, and Back Market goes through a vetting process when onboarding sellers.

Investors this round include , and Eurazeo Growth.

The new funding will be used to improve Back Market鈥檚 quality control, expand its geographic footprint, and invest in its technology, managing director Serge Verdoux said in an interview with聽 附近上门 News. The company is working to build out an ecosystem around quality: investments in data, people doing analysis, partnerships for software to test devices, etc.

The funding will also fuel Back Market鈥檚 expansion in Europe and North America. Back Market is in seven countries in Europe (along with the United States) and wants to increase that figure to more than 20 markets. The U.S. is the only non-European country in which the company sells to consumers, but it鈥檚 thinking of expanding into Canada and Mexico as well. Back Market would like to eventually expand to Asia, but that鈥檚 further down the line (probably late 2021 or maybe 2022, Verdoux said).

While consumers from only eight markets can buy items from Back Market, the company has sellers from about 30 countries worldwide. With the U.S. as the company鈥檚 鈥淣o. 1 growth market,鈥� according to Verdoux, it was important to have a recognizable American investor. That鈥檚 where Goldman Sachs came in.

“What we wanted to do for this round is really have a U.S. company and ideally a globally established brand to help us. … I think it鈥檚 also important with the network and the brand recognition that they bring to help build this globally,鈥� he said.

Back Market鈥檚 sales and revenue have been growing by triple-digit percentages globally, Verdoux said, and in some markets like the U.S., growth is much higher.

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