Back Market, the refurbrished device marketplace, raises $335 million

May 18, 2021 ยท 1 min read
Back Market, the refurbrished device marketplace, raises $335 million
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General Atlantic led a Seried D round of funding, bring in $335M in additional cash for the booming used device platform. The company has a total valuation of $3.2 billion with 5 million active customers.

Yet another company bringing legitimacy to the Right to Repair movement, Back Market is a platform to sell refurbished laptops, tablets, or phones, giving opportunity to repair shops, hobbyists, and electronics liquidators alike.

Of course, the sale of used stuff is nothing new, and eBay still leads the way for people to sell off their old laptops/phones. What is different about Back Market is their vetting process that reduces the flow of devices in poor condition, being more of a competitor with retailers.