Big Cash For Old Tech: Back Market Raises $510 Million For Reselling Old Electronics

Electronics refurbishing giant Back Market has raised a massive $510 million series E funding round at a $5.7 billion valuation, the company will announce tomorrow. This comes just eight months after raising $335 million in May 2021.

Apparently there’s big money in reselling used electronics.

In fact, according to Scott Luton, the founder and host of Supply Chain Now, the “recommerce market” is worth an estimated $40 billion a year, and is expected to double in the coming years.

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