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OTS: Back Market / Series E investment round: Back Market receives 450 …

Series E investment round: Back Market receives 450 million euros and

is now valued at 5.1 billion euros

Berlin (ots) – +++ New round of investments strengthens Back Market’s leadership position

in the refurbished area +++ investment of 60 million euros in Germany as well

Tripling of the team planned +++

Back Market (https://www.backmarket.de/), the leading marketplace for

remanufactured electronics, completes a new round of 450 investments

Million euros. This increases the company’s valuation to 5.1

Billion euro. The round is led by the new investor Sprints Capital

and from existing partners Eurazeo, Aglaé Ventures, General Atlantic and

Generation Investment Management supports.

Back Market wants to further expand its position in Germany and all of Europe

Back Market was one of the first marketplaces for remanufactured

Electronic equipment in Europe and has since held a leading position

work out. So far, the company has opened up 13 European countries in which

further substantial investments are planned. Additional markets are to follow.

The start-up is planning 60 million euros for operations in Germany

one. In addition, the size of the German team is to be tripled.

With the Series E round, Back Market is underlining its future-oriented vision

and can maintain its position as the leading marketplace dedicated exclusively to the

Dedicated to expanding the sale of professionally processed electronics. the

Back Market Co-Founder and CEO Thibaud Hug de Larauze explains:

“Our goal is to make remanufactured electronics the first choice when buying from

to make technical devices. We expect one in the electronics market

similar development to the used car market in America. There has been

the sale of used vehicles versus the sale of new vehicles

doubled. The support and trust of investors as well as ours

growing customer base represent an important step on the way of Back

Market and, more importantly, the circular economy as a whole. “

Make circular technology mainstream

Confidence in renewed electronics is essential for the vision to come true

a circular economy is of central importance. For this reason proclaimed

Back Market with pride that the average defect rate on the platform

now at just four percent, which is almost the average unofficial

Corresponds to a failure rate of new devices of around three percent. One main focus

of the company will focus on increasing the defect rate for all devices

lower so that consumers can find a better sustainable alternative to buying

have new technology. The quality is also guaranteed by a 12 month period

Seller’s guarantee and, once it has expired, an additional 24-month guarantee

Extended warranty guaranteed by Back Market for all purchases.

More and more consumers are developing green habits and the divide

begins between concern for the environment and actual consumer behavior

to shrink. According to a study by Kantar, every fifth shopper claims to have been

Having started the pandemic in March 2020 to have adopted more sustainable habits.

That’s encouraging when you consider that 90 percent of a company’s carbon footprint is

electronic device originate from the manufacturing process. The extension of the

Lifespan of smartphones and other electronic devices has a

significant impact on the slowdown in climate change.

Further investments in overall quality and a seamless customer experience

Back Market not only offers the highest quality products, but one too

fast shipping and great customer service.

“We go one step further with the first-class quality of our products

continue and offer our customers an optimized search experience that ensures

that they instantly become the top performing sellers on our marketplace for

be forwarded to every device they are looking for. The quality of the seller

is monitored using more than 20 metrics, “says Hug de Larauze.

Technology that lasts (almost) forever is the key to the circular economy

E-waste is the world’s fastest growing solid waste stream – and

the most poisonous. 82.6 percent of e-waste is not used properly

recycled, mainly because today’s infrastructures are moving at the breakneck pace

just can’t keep up with overproduction.

By reusing, repairing and reconditioning of

Technology minimizes the need to buy new equipment. Everyone can do that

help reduce the ecological footprint of electronic devices

– without additional effort or costs.

With more than six million customers worldwide, Back Market is a catalyst for

a fundamental change in consumer behavior and drives the discussion

about how people consume technology – an expert

renewed device after the other.

Henrik Persson, Managing Partner of Sprints Capital: “The demand of the

Consumers looking for sustainable shopping is a trend that has been in the sprints for over

invested over a decade. By extending the life of millions

of consumer electronic devices and the provision of an inexpensive

Access to the best products, Back Market is changing the world for the better. The

Company is well positioned to be the first alternative to new worldwide

To become technology. “

Yann Du Rusquec, Managing Partner of Eurazeo: “As a staunch supporter of

Circular economy and supporters of Back Market’s mission against

We are happy to participate in this funding to proceed against excessive consumption.

We believe the company has a great opportunity ahead of it and we have it

great confidence in the team’s ability to use them. “

Chris Caulkin, General Atlantic Managing Director, Head of Technology für EMEA

and member of the Back Market Board of Directors: “As the circular economy

is becoming more and more attractive for consumers internationally, is becoming the back market

continues to grow and the global market for remanufactured electronic equipment

change. General Atlantic firmly believes in Back Market’s mission to

buying technical hardware for a more sustainable, seamless experience

for customers and we look forward to partnering with the

impressive team. “

Shalini Rao, Growth Equity Partner bei Generation Investment Management : “Back

Market continues to grow from success to success and develop into a real one

Pioneer in the market for sustainable consumer electronics. We are excited

by the company’s efforts to encourage consumers to purchase used

Electronics to make it easier for new devices. We are convinced

That Back Market stands out by focusing on this goal from others

Vendors in this area stand out and promote sustainable consumption habits

Go mainstream. “

Imagery

Portrait of Thibaud Hug de Larauze, co-founder and CEO of Back Market (https: // www.

frauwenk.de/Mediaserver/BackMarket/BackMarket-WEB_JGlassberg_Web.JPG) (Credit:

Julie Glassberg)

Group picture of the founders of Back Market (from left to right: Quentin

LeBrouster, Thibaud Hug De Larauze, Vianney Vaute) (https://www.frauwenk.de/Medi

aserver / BackMarket / BackMarket_LeBrouster_HugDeLarauze_Vaute_byJGlassberg_quer.jp

g) (Credit: Julie Glassberg)

About Back Market

The startup Back Market, founded in France in 2014, is one of the first

European online marketplaces for thousands of electronic devices sold by

certified workshops have been reconditioned. The founders Thibaud Hug de

Larauze, Quentin Le Brouster and Vianney Vaute firmly believe that

the wishes and needs of consumers, including remanufactured equipment

can be met. As a driver of the circular economy, Back Market wants

make a decisive contribution to a fundamental change in mentality

and reduce electronic waste. Currently represented in 14 countries (France,

Germany, Austria, Spain, Italy, Greece, Great Britain, Ireland,

Belgium, Netherlands, Finland, Portugal, Japan and United States),

the company employs over 650 people in Paris, Bordeaux, New York,

Prague and Berlin. http://www.backmarket.de/

About Sprints Capital:

Sprints Capital is a London-based, independent private equity firm that invests

in late-stage technology-enabled growth companies with proven business models,

strong and durable market positions and excellent teams, primarily in Europe.

Over the last two decades, the team behind Sprints Capital has invested over

EUR2bn in more than 50 internet businesses, many of which have grown to become

some of the largest tech-enabled companies in Europe and beyond. Blocket,

Leboncoin, Avito, Vinted and Chrono24 are select examples of companies focused

on used goods that the team has backed over the years.

For more information on Sprints Capital, please visit the website:

http://www.sprintscap.com.

About Eurazeo:

Eurazeo is a leading global investment group, with a diversified portfolio of

EUR27.0 billion in Assets Under Management, including EUR19.2 billion from third

parties, invested in over 450 companies. With its considerable private equity,

real estate and private debt expertise, Eurazeo accompanies companies of all

sizes, supporting their development through the commitment of its 350

professionals and by offering deep sector expertise, a gateway to global

markets, and a responsible and stable foothold for transformational growth. Its

solid institutional and family shareholder base, robust financial structure free

of structural debt, and flexible investment horizon enable Eurazeo to support

its companies over the long term.

Eurazeo has offices in Paris, New York, São Paulo, Seoul, Shanghai, Singapore,

London, Luxembourg, Frankfurt, Berlin, Milan and Madrid. Eurazeo is listed on

Euronext Paris.

About Aglaé Ventures:

Aglaé Ventures is an international venture capital firm based in Paris, New York

and San Francisco backed by Agache, the controlling shareholder of LVMH. Aglaé

Ventures invests from EUR 100K up to EUR 100MM in asset light activities and

fast-growing technology companies at all stages. Over the past 20 years, Aglaé

and its affiliates have backed some of the most iconic global technology

companies including Netflix, Slack, Spotify, Airbnb, Automattic, eToro and many

others.

About General Atlantic:

General Atlantic is a leading global growth equity firm providing capital and

strategic support for growth companies. Established in 1980, General Atlantic

combines a collaborative global approach, sector specific expertise, a long-term

investment horizon, and a deep understanding of growth drivers to partner with

great entrepreneurs and management teams to build market-leading businesses

worldwide. General Atlantic has more than 175 investment professionals based in

New York, Amsterdam, Beijing, Greenwich, Hong Kong, Jakarta, London, Mexico

City, Mumbai, Munich, Palo Alto, São Paulo, Shanghai, and Singapore. For more

information on General Atlantic, please visit the website:

http://www.generalatlantic.com.

About Generation Investment Management:

Generation Investment Management LLP is dedicated to long-term investing,

integrated sustainability research, and client alignment. It is an independent,

private, owner-managed partnership established in 2004 and headquartered in

London, with a U.S. office in San Francisco. Generation Investment Management

LLP is authorized and regulated in the United Kingdom by the Financial Conduct

Authority. http://www.generationim.com.

Press contact:

Agency Frau Wenk +++ GmbH

Tel.: +49 (0) 4032904738-0

E-mail: mailto:[email protected]

Further material: http://presseportal.de/pm/142243/5119145

OTS: Back Market

Reference-www.finanzen.at

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