Herbst Kinsky advises Refurbed on EUR 15,6 million Series A round
Positive news from the start-up scene. In these challenging times, Herbst Kinsky is especially pleased to report on the EUR 15.6 million Series A investment of our longstanding client Refurbed. This is one of the largest Series A financing rounds ever in Austria. Lead investor of this round was Evli Growth Partners (Finland). Other prominent new investors are Almaz Capital, Bonsai Partners (Spain), All Iron Ventures (Spain) and FJ Labs (US). The existing investors Inventure Partners and HOKL Ventures (Klaus Hofbauer) also participated in the round.
Refurbed operates an online marketplace for refurbished electronic products since 2017. With its concept of product renewal of laptops and smartphones (with guarantee), Refurbed has managed to increase its sales within a very short time from EUR 8 million in 2018 to EUR 40 million in 2019. The forecasts for 2020 are also optimistic.
“We are pleased that this investment, which is important for the company, has been made even under the current tense economic conditions. The deal shows that the venture capital industry does not stand still and this is important for the entire start-up world as an innovation driver of the economy”, says Florian Steinhart, partner at Herbst Kinsky.