Refurbed Raises €51.9M to Bring Circular Electronics to the UK

The refurbished electronics market just got more interesting. Refurbed, Europe’s fastest-growing marketplace for professionally refurbished devices, has closed a €51.9M (£44M) funding round led by Alex Zubillaga and Orilla, the Riberas family’s investment platform. The capital will fuel the company’s expansion into the UK market, targeting one of Europe’s largest opportunities in circular electronics.

This isn’t just another growth story. Refurbed’s timing couldn’t be sharper.

Existing backers Evli Growth Partners, Bonsai, Almaz, C4 Ventures, and Speedinvest also participated. The Vienna-based company, which has processed 9 million devices since 2017, now operates across 12 European markets. Its pitch is simple: refurbished phones and laptops work like new, cost 40% less, and come with a 12-month warranty. The environmental impact? 350,000 tons of CO₂ and 1,136 tons of e-waste avoided.

Why the UK market matters for circular electronics

The UK represents a massive untapped opportunity. The country’s re-commerce sector contributes over £7 billion annually, yet 33 million unused phones sit in drawers—perfectly suitable for refurbishment. That’s wasted value and wasted devices. Refurbed’s model addresses both.

“Growing demand for sustainable technology meets a clear gap in supply,” the company notes. Indeed, despite consumer interest, reliable refurbished tech options remain scarce. Moreover, the UK’s Net Zero objectives and Right to Repair legislation create ideal policy conditions for Refurbed’s entry.

The company’s 40-step refurbishment process sets it apart. Each device undergoes rigorous testing, renewal, and quality checks. Products arrive looking and functioning like new. Furthermore, customer satisfaction runs at 4.7 out of 5 stars across European markets—a track record that should translate well to British consumers.

Profitability changes the game for climate tech funding

Here’s what makes this deal noteworthy: Refurbed achieved profitability in March 2025 and reached €2 billion in GMV earlier this year. That’s rare in climate tech. Most circular economy plays burn cash chasing growth. Refurbed proves the model works at scale.

Peter Windischhofer, co-founder and CEO, emphasizes the dual win: “Profitability in March, 40% year-on-year sales growth, and leveraging AI across our revenue-generation machine. We proved that doing good and doing well aren’t opposites.” Additionally, the company aims to reach £860 million in GMV for FY2025.

The funding will expand product offerings and enhance user experience in core markets. But the real play is making refurbished mainstream. If Refurbed can crack the UK—a market known for premium tech spending—it validates circular electronics as more than a niche.