refurbed Reaches New Milestone Towards Driving the Circular Economy as GMV Surpasses €2 Billion

refurbed, the leading online marketplace for refurbished products in Ireland has surpassed €2 billion in gross merchandise value (GMV) this year, marking a major milestone in advancing the circular economy both in Ireland and across Europe. Irish sales account for €100 million of this total, with over 300,000 products sold in Ireland since the company’s launch.

When it comes to sustainable tech purchases, Irish consumers rank among the top buyers across refurbed’s eleven markets. They bought the second highest number of refurbished laptops out of eleven markets and the joint second highest number of tablets. Irish consumers are also marked the highest in terms of gifting cameras, buying twice as many cameras as a German consumer during the Christmas period. Audio devices, smartwatches and gaming consoles ranked the most popular purchases for Irish consumers, after smartphones and laptops.

Speaking on the announcement, refurbed’s co-founder and CEO Peter Windischhofer said: “Since refurbed’s foundation, our mission has been to drive the circular economy and make sustainable consumption more accessible. Reaching €2 billion in sales is a clear sign that Europe is embracing this change, with Irish consumers buying into many different categories.

“With more people prioritising the environment over e-waste and hyperconsumption, it is clear that this is not merely a trend, but a lasting priority. The planet can no longer sustain our level of production, so this momentum is extremely encouraging.” 

refurbed’s growth

refurbed reached €1 billion in sales in 2023, doubling its GMV in just two years and signifying 100% total growth. refurbed has recently closed a €53 million Series C funding round, expanded its operations to now include eleven European countries and widened its offering to 25,000 products available on its marketplace. The company’s growth and momentum reflect a shift toward sustainable consumption, driven by increasing consumer awareness of the negative impact of new technology production.

Last year, refurbed earned B Corp certification for its commitment to social and environmental responsibility and transparency. To measure its impact, the company developed an ISO 14040/44 verified calculation model. On average, a refurbished smartphone saves 83% in CO2 emissions, 89% in virtual water, and 77% in electronic waste.

Every product sold on refurbed’s marketplace undergoes a rigorous refurbishment process of up to 40 steps, including data erasure and restoration to factory settings. To ensure customer confidence, each device comes with a 30-day free trial and a minimum 12-month warranty. Since its inception, refurbed has saved over 270,000 tonnes of CO2, 900 tonnes of e-waste, and 94 billion litres of water, planting more than 6.6 million trees.

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