French refurbished iPhone seller Back Market hits $5.7bn valuation

Back Market, an online marketplace that sells refurbished iPhones and other electronic devices, has raised funding that boosts its valuation to $5.7 billion, leapfrogging what it was worth less than a year ago, according to the company and its investors.

Founded in 2014, Back Market fixes and resells electronic goods, including Apple and Samsung smartphones and tablets, MacBook, Dell and Microsoft laptops, Krups coffee makers and Dyson hair dryers.

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