Herbst Kinsky advises refurbed on EUR 45.5 million Series B round
Herbst Kinsky advised refurbed, an Austrian start-up on its way to becoming a Unicorn, on its EUR 45.5 million Series B financing round. Lead investors of this round were Evli Growth Partners from Finland and the Californian US investor Almaz Capital. In addition to existing investors such as Bonsai Partners, Speedinvest and All Iron Ventures, a number of renowned new investors have also invested in the company, including Hermes GPE, SevenVentures, C4 Ventures, Alpha Associates, Monkfish Equity (Trivago founder), Kreos Capital, Isomer Capital, Expon Capital and the Creas Impact Fund.
The green tech start-up has been operating an online marketplace for refurbished electrical products since 2017. The great economic development is reflected, amongst others, in the fact that the company was able to triple its (external) sales to more than EUR 100 million in 2020 (compared to 2019). With the fresh capital, the existing core markets of Austria, Germany, Ireland, France, Italy and Poland shall be further developed; additionally, the company wants to expand into other countries.
Florian Steinhart, Partner at Herbst Kinsky: “We are of course happy to advise refurbed, a flagship green tech start-up, since its beginnings. We are convinced that refurbed has the potential to reach Unicorn status in the near future.“