Refurbed, the Austrian platform for selling and buying refurbished devices, received an investment from Oltre III, an Italian fund that focuses on social impact. The company will use the money to offer more products and involve more customers in its circular economy projects. Refurbed, which entered the Italian market at the end of 2019, is a leading player in Europe, with operations in Italy, Sweden, Denmark, Ireland, the Netherlands, Germany and Austria.
The platform for refurbished devices will use the investment to offer more products and engage more customers in its circular economy projects. Refurbed grew fast and became profitable in Austria in 2023, sooner than expected.
Oltre III, a fund by Oltre Impact sgr, joined Refurbed’s $57 million funding round in November 2023, whereby the valuation and the investment size were not disclosed. The round was led by Evli Growth Partners, C4 Ventures and Speedinvest, and raised the total capital to $130 million.