‘Back Market’ is a popular marketplace for refurbished smartphones and electronics devices. The French marketplace is now a $ 5.7 billion company. News Reuters.
The company recently received an investment of $ 510 million, which is where the company’s new valuation was made.
In a statement, Back Market said the new investment would further strengthen the position of Back Market as the leading refurbished electronics marketplace serving more than 6 million customers worldwide.
The latest investments are from Sprint Capital, a London-based private equity firm, as well as Eurazeo & Eagle Ventures in France and General Atlantic & Generation Investment Management.