Dusseldorf Kilian Kaminski learned his business from the world’s largest online retailer. The 29-year-old directed Amazon in Germany the Certified Refurbished Program, the sale of used and refurbished electronic items. But after a year and a half it was clear to him: “This area has no priority at Amazon.” The focus of the platform is on new goods.
In view of the discussion about more sustainability, however, Kaminski saw potential in the business: Together with Peter Windischhofer and Jürgen Riedl, he founded Refurbed in Austria in 2017, a marketplace through which only such devices are sold second-hand and which is intended to distinguish itself through special quality.
The founders’ claim: Only professional suppliers who process at least 1000 devices per week are allowed to sell there. That is why they can offer a guarantee of at least twelve months. Apparently, that goes down with customers. Compared to 2018, the marketplace turnover increased fivefold in 2019 with more than 40 million euros.
Refurbed is already active in Austria, Germany, Poland and Italy and has around 80 employees. This year the company is aiming for a market turnover of 100 million euros and plans to launch in three other European countries.
Now, new investors should ensure that the young company can keep up this pace of growth. An international group of investors, led by Finnish Evli Growth Partners and Almaz, Bonsai Partners, All Iron Ventures and FJ Labs, provided the start-up with 15.6 million euros in venture capital. This is the second highest Series A funding in Austria to date.
“It is very rare for companies to grow so quickly while doing business sustainably. We are excited to be part of this success story, ”said Charlie Ryan, partner at Almaz.
Kaminski cleverly uses sustainability as a selling point. “Our mission is to change our consumer society in the long term,” says the native of Hamburg. And so that everyone understands that Refurbed is a “Greentech Start-up”, they plant a tree for every device sold. There are already more than 200,000.
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