Refurbed closes £44 million round as it targets UK expansion

Refurbed, a Vienna-based marketplace for refurbished electronics, secured £44 million in its latest funding round, signaling confidence in the growth of the re-commerce sector. The funding round, led by investors including Alex Zubillaga and Orilla, will fuel the company's expansion, particularly its entry into the UK market. This investment underscores the increasing consumer interest in sustainable technology and the circular economy, aligning with European digital sovereignty goals. Refurbed, founded in 2017, operates across 12 European markets and has processed 9 million devices for 4 million customers. The company's environmental impact includes avoiding 350,000 tons of CO₂, averting 1,136 tons of electronic waste, and saving 116 billion liters of water. Their UK strategy targets a significant opportunity, as the re-commerce sector already contributes over £7 billion annually, with millions of unused devices suitable for refurbishment. The expansion into the UK positions Refurbed to capitalize on rising demand for sustainable technology. The UK's commitment to Net Zero objectives, Right to Repair initiatives, and e-waste reduction targets provide a favorable environment for the company's growth. This move supports the broader European effort to promote circular economy practices and reduce reliance on new device production, contributing to a more sustainable digital landscape.