Refurbed has secured £44 million in new funding.
The company plans to use the capital to expand its refurbished electronics marketplace into the UK.
The round was led by investor Alex Zubillaga and Orilla, the Riberas family’s investment platform. Existing shareholders also participated in the financing.
Refurbed operates an online marketplace for professionally refurbished products. Its mission is to make consumption more sustainable by extending the life of existing devices. The company was founded in 2017. To date, refurbed has processed 9 million devices for 4 million customers. It currently operates across 12 European markets, including Germany and Austria. This work has reportedly avoided 350,000 tons of CO₂ and 1,136 tons of electronic waste. The UK's re-commerce sector contributes over £7 billion annually. However, an estimated 33 million unused phones in the country are suitable for refurbishment.
Refurbed aims to bring more of these devices back into the circular economy.