# Back Market

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/back-market

- Industry: Consumer Products
- Headquarters: Paris, France
- Website: www.backmarket.com
- Total disclosed funding: $645M
- Latest round: Series E (Feb 10, 2022)
- Investors on record: 8

## About

Based in France, Back Market, Inc. operates an online marketplace specializing in refurbished electronic devices, connecting consumers with high-quality, affordable alternatives to new technology.Founded in 2014 in Paris, France, Back Market, Inc. focuses on the sale of refurbished electronics. The company was established by Daniel Cardoso, Quentin Le Brouster, Thibaud De Larauze, and Vianney Vaute, who aimed to create a sustainable option for tech consumers. Back Market has successfully raised EUR 300 million in its Series E funding round in February 2022, led by Sprints Capital Management, with participation from Aglaé Ventures, Eurazeo, General Atlantic, and Generation Investment Management, bringing its total amount raised to EUR 300 million and valuing the company at EUR 5,642.83 mn.Back Market specializes in the sale of refurbished electronic devices, focusing primarily on smartphones, laptops, tablets, gaming consoles, smartwatches, and audio equipment. The company operates a marketplace connecting consumers with refurbished devices restored to a high standard, often functioning as good as new, but at prices typically up to 70% lower than brand-new counterparts. The products cater to environmentally conscious consumers aiming to reduce e-waste while saving on technology costs and serve a diverse customer base across international markets including the United States, Germany, France, the United Kingdom, and Spain.Back Market generates revenue through direct-to-consumer sales of refurbished electronic devices via its online platform. For the most recent year, the company's revenue amounted to EUR 11,320,848.60 with an EBITDA of EUR -1,412,967.60. The straightforward transaction structure allows customers to purchase devices outright, benefiting from promotional offers and trade-in options that let consumers exchange old devices for cash or discounts. This model attracts individual consumers and positions Back Market favorably in the growing refurbished tech market.In February 2022, Back Market, Inc. raised EUR 300 million in Series E funding led by Sprints Capital Management to support its growth initiatives. The company plans to utilize this funding to recruit additional personnel and expand its market presence. Specific future initiatives include the development of new products and the exploration of additional international markets, although exact release dates and geographic targets have not been disclosed.

## Funding rounds

- Series E, Feb 10, 2022, $342M — General Atlantic, Eurazeo, Generation Investment Management, Sprints, Aglaé Ventures
- Series D, Aug 13, 2021, $189M — General Atlantic, Eurazeo, Generation Investment Management, Goldman Sachs Asset Management, Daphni, Aglaé Ventures
- Series C, Sep 9, 2020, $71M — Eurazeo, Goldman Sachs Asset Management, Daphni, Aglaé Ventures
- Series B, Jul 3, 2018, $36M — Eurazeo, Financière Agache, Daphni, Aglaé Ventures
- Series A, Jun 19, 2017, $7.5M — Daphni, Aglaé Ventures

## Investors

- Daphni (https://capitalatlas.ai/funds/daphni) — Series A, Series B, Series C, Series D
- Aglaé Ventures (https://capitalatlas.ai/funds/aglae-ventures-2) — Series A, Series B, Series C, Series D, Series E
- Eurazeo (https://capitalatlas.ai/funds/eurazeo) — Series B, Series C, Series D, Series E
- Financière Agache (https://capitalatlas.ai/funds/financiere-agache) — Series B
- Goldman Sachs Asset Management (https://capitalatlas.ai/funds/goldman-sachs-asset-management) — Series C, Series D
- General Atlantic (https://capitalatlas.ai/funds/general-atlantic) — Series D, Series E
- Generation Investment Management (https://capitalatlas.ai/funds/generation-investment-management) — Series D, Series E
- Sprints (https://capitalatlas.ai/funds/sprints) — Series E