Rise of refurb
Vienna-based start-up Refurbed, the leading marketplace for refurbished electronics in the German-speaking region, has raised $54 million in funding. The company has expanded rapidly in recent years, aided by increasing consumer awareness of the environmental impact of e-waste and a demand for less expensive, refurbished electronics, which can be 40% cheaper than new ones. Refurbed works with more than 130 merchants across Europe and last year, it sold more than €100m worth of refurbished goods, up threefold on the previous year. In 2019, 53.6m tonnes of electronic equipment (e-waste) was discarded globally, and Refurbed is hoping to help reduce this. Also noting the fact that most e-waste comes from household items like toasters, kettles and irons, Refurbed is looking to expand what it offers. The company aims to get at least one refurbished device into every household in Europe, helping to change the way we consume electronic devices as a society.