After reaching profitability, Refurbed secures €50m to grow secondhand tech marketplace

Refurbed has raised €50m to expand its refurbished electronics marketplace across Europe.

The round was led by angel investor Alex Zubillaga, one of Spotify’s earliest backers, and Orilla Asset Management, backed by the Riberas family, one of Spain’s most prominent business dynasties. Existing investors Evli Growth Partners, Bonsai, Almaz, C4 Ventures, and Speedinvest also joined in.

The Austrian startup says it hit profitability in March 2025 after hitting €2b in sales.

"While many companies continue to burn through capital in pursuit of growth, we’re showing that it’s actually possible to combine scalability with building a long-term profitable company,” co-founder Peter Windischhofer told Impact Loop at the time of the announcement.

A growing marketplace

Refurbed currently operates in 11 EU countries, with Germany and Austria being its largest markets. Sweden comes in third, with over €200m in sales since 2021.

With the fresh capital, Refurbed plans to enter new markets, add product categories, and deepen partnerships with brands like Dyson, AEG, and Kärcher. It’s also ramping up AI-driven tools to boost efficiency and sustainability, it said.

Refurbed’s business model is commission-based. For every product sold, the company takes a roughly 10% cut – the rest goes to its partner refurbishers.

The global market for refurbished products is expected to reach $118 billion by 2032, and many players are rushing to cash-in. In Europe, Refurbed’s main competitors are Germany’s BackMarket and Finland’s Swappie, which sells refurbished iPhones and iPads.