Series E investment round led by Sprints Capital, together with Eurazeo, Aglaé Ventures, General Atlantic, and Generation Investment Management, strengthens Back Market’s leadership in the refurbished sector.
Back Market closed an investment round of $510m, following a $335m Series D round in May 2021, bringing total investment to more than $1bn since the company was founded in 2014. The round, which values Back Market at $5.7bn, was led by new investor, Sprints Capital, with continued support from Back Market’s existing investors.
In line with its core mission: Back Market is determined to grow the demand for refurbished electronics by delivering an experience superior to buying new.
Back Market will use the funds to continue investing heavily in ensuring like-new product quality and delivering a world class customer experience, with the goal of expanding its global customer base.
Read more/Source: Back Market
