German recommerce site ReBuy raises $26 million U.S.
Retrieved from AIM Group on 7th March, 2018
Author: Kate Rodriguez
ReBuy, Germany’s second-largest recommerce site that had revenues north of $100 million U.S. and reached breakeven last year, has announced its raised €21 million ($26 million U.S.) from old and new investors, including its own management team.
Swiss private equity firm Evoco AG (which has backed ReBuy before) led the round. New investors include Headway Capital Partners, Keyhaven Capital Partners, and all six of ReBuy’s leadership team, led by CEO Thorsten Schero (LinkedIn profile).
ReBuy buys second-hand goods (e.g., media, electronics, and watches), inspects them and resells items with a guarantee via its own site and on marketplaces like EBay, Amazon, and Gebraucht.de. The site’s fastest-growing category is electronics, and ReBuy claims to be Europe’s largest recommerce site for these goods.
The company will use the fresh capital to continue international expansion, strengthen its brand and improve customer satisfaction, it said in a news release (in German). It now operates in Germany, Austria, France and Netherlands.
In December, Berlin-based Rebuy said it cracked the €100-million ($117 million U.S.) revenue mark and was turning a profit for the first time. It was founded in 2009.
Strong growth is putting it within striking distance of Momox, Germany’s largest recommerce site by reported revenue. Last June, Momox reported that FY2016 revenue reached €150 million, a 30 percent increase over the previous year, and that profits were up 55 percent in the same period, reaching nearly €7 million. Momox has sites in Germany, Austria, France and the U.K.