Back Market - Back Market, the renewed electronics marketplace, raises $510 million and is now valued at $5.7 billion
Summary
Lauren Benton, General Manager of Back Market USA says: “We are taking e-commerce best practices a step further by offering customers a streamlined discovery experience, ensuring that they are immediately directed to top-performing sellers on our marketplace for any specific device they are seeking. The company is well positioned to become the global number one alternative to new tech.” Yann Du Rusquec, Eurazeos Managing Partner: “As strong believers in the circular economy and supporters of Back Market’s mission to act against overconsumption, we are delighted to participate in this new fundraising. Sprints Capital is a London-based, independent private equity firm that invests in late-stage technology-enabled growth companies with proven business models, strong and durable market positions and excellent teams, primarily in Europe. Over the past 20 years, Aglaé and its affiliates have backed some of the most iconic global technology companies including Netflix, Slack, Spotify, Airbnb, Automattic, eToro and many others. General Atlantic currently has over $86 billion in assets under management inclusive of all products as of September 30, 2021, and more than 215 investment professionals based in New York, Amsterdam, Beijing, Hong Kong, Jakarta, London, Mexico City, Mumbai, Munich, Palo Alto, São Paulo, Shanghai, Singapore and Stamford.