The French start-up Back Market has great ambitions! After the opening in the coming months of new offices in Bordeaux with a team of 30 people, the market leader in refurbished goods announces a capital raising of €41 million. Next stop, the United States!
A desire to contribute to Bordeaux’s vibrant digital ecosystem
Created in 2014, Back Market, the leading marketplace devoted to refurbished electronic goods, has chosen Bordeaux in order to pursue its growth.
The website sells high-tech electrical and electronic goods (smartphones, IT, photography, etc.) which have been checked and validated by its partner French and European refurbishing plants.
The goods are second-hand but 100% operational and in good condition. Above all, they are sold at 30 to 50% less than suggested retail prices!
Located in the heart of Darwin, the ecosystem based on the green economy, this new branch will employ 50 people in the long term.
‘We knew that Bordeaux has long been engaged in an environmental strategy’, explains Thibaud Hug de Larauze, CEO and co-founder of Back Market. ‘It was important for us to locate in a region and a site with which we share such fundamental values.’ From his first contact with the company’s directors, Lionel Lepouder, President of Invest in Bordeaux, knew that Bordeaux, even as a favourite choice, needed to be convincing.
‘We have numerous arguments in favour of our region and we are actively working on this sector’ Lionel Lepouder explains.
Once again, the vibrant digital ecosystem, the structured regional offer and the ability of all partners to come together to achieve the project were decisive factors in the final choice.
‘We have received great support from Invest in Bordeaux for this project and our staff have particularly appreciated its mobility/assistance service for spouses’, adds Thibaud Hug de Larauze.
To begin with, around ten employees will be transferred from Paris to Bordeaux and a recruitment process will be launched (notably for Process Manager and Head of Customer Service).
Activities will revolve around Customer Service, in particular for Spain, Germany and Italy. In a second phase, members of the Development department will join the initial teams.
After Bordeaux, significant capital raising to develop its US activity.
Back Market, which will soon reach the 100-employee mark, has also recently opened an office in New York to approach specialised factories.
To break into this fast-growing international market and following two capital raisings (€300,000 in 2015 and €7 million in 2017), the start-up has just finalised a new contribution of €41 million from Groupe Arnault, the investment company Eurazeo, Daphni, Aglaé Ventures and Thierry Petit.
The company would like to create an international designation to ‘guarantee the customer of an experience which is as good as, if not better than, a new product’.