PARIS (Reuters) – Back Market, the French market for smartphones and refurbished electronics, said on Tuesday it had closed a $510 million investment round, raising its valuation to $5.7 billion.
“The investment consolidates Back Market’s position as a leader in the refurbished electronics market, with more than 6 million customers worldwide,” the company said in a statement.
The round was led by London-based private equity firm Sprints Capital, together with France’s Eurazeo and Aglae Ventures, General Atlantic and Generation Investment Management.
Back Market said the additional funding will help its effort to make technology circular – tech products that can be reused and take advantage of the growing demand among consumers for these products.
The post French group of refurbished smartphones Back Market receives funding and is worth US$5.7 billion appeared first on ISTOÉ DINHEIRO.
#French #group #refurbished #smartphones #Market #receives #investment #worth #US57 #billion #ISTOÉ #DINHEIRO