Back Market receives new funding as refurbished electronics market grows

The refurbished electronics company, Back Market, secured $510 million in funding on Tuesday from investor Sprints Capital. The funding makes Back Market now worth $5.7 billion.

The funding follows a $335 million Series D round last May and will be used to hire more people and expand the already growing customer base that spans 16 markets and five regions. Back Market co-founder and CEO Thibaud Hug de Larauze told ZDNet that a major focal point for the company this year would be expanding brand awareness and the benefits of refurbished devices.

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