French startup Back Market raises €110m series-C

Goldman Sachs is a new investor, while the other participants in the round had previously backed the business. A consortium of investors injected €41m into the startup in 2018 – Eurazeo, Aglaé, Daphni and Groupe Arnault all contributed to that round.

Back Market had initially raised €7m in May 2017, in a round backed by Daphni and Aglaé.

The company will use the series-C proceeds to expand in the DACH market, according to a statement. It will also scale up its quality-control efforts, improve its algorithm via machine learning, and introduce new logistics and repair services.

Company
Launched in 2014 and based in Paris, Back Market helps consumers find refurbished smartphones, tablets, televisions and secondhand appliances.

Consumers can purchase devices directly from certified refurbishing factories, distributors and brands. The devices come repaired and have warranties. The business claims to offer products that are priced 30-70% lower than the current market price.

Back Market employs a team of around 280 people across its offices in Paris, Bordeaux and New York.

People
Goldman Sach Growth – Alexandre Flavier (investor).
Aglaé Ventures – Antoine Loison (partner).
Eurazeo Growth – Yann du Rusquec (managing director).

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• Topics
• Expansion
• Consumer
• France
• Eurazeo
• Goldman Sachs
• Venture