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- Back Market
Back Market Revenue, Valuation, Funding & Investors
Back Market is valued at $5.7B as of January 2022.
Last Back Market valuation
$5.7B
Series E · Jan 2022
Last Back Market funding round
$504M
Series E · Jan 2022
Back Market revenue
$227M
Series D · May 2021
Key investors in Back Market
Aglaé Ventures
Eurazeo
Daphni
General Atlantic
Generation Investment Management
Goldman Sachs
About Back Market
Back Market is a Paris-headquartered online marketplace for refurbished smartphones, laptops, and appliances. Operating in 18 European countries plus the United States and Japan, it connects certified refurbishers with buyers, selling over 6 million devices since 2014. The platform guarantees two-year warranties and employs 700 staff across Paris, New York, and Berlin.
Founded
2014
HQ
Website
Status
Privately held
Customer focus
B2C
Revenue model
Commission
Revenue
$227M (May 2021)
Valuation
$5.7B (Jan 2022)
Back Market Valuation
Back Market is currently valued at $5.7B, based on its Series E in January 2022.
The $504M round was led by Sprints Capital, with participation from GS Capital, General Atlantic, Aglaé Ventures, Generation Investment Management and Eurazeo.
Back Market's valuation has grown 1.8x from $3.2B at its Series D in May 2021 to $5.7B in January 2022, across 2 priced rounds.
Back Market valuation by funding round
Revenue multiple| Date | Stage | Valuation | Revenue Multiple |
|---|---|---|---|
| Jan 2022 | Series E | $5.7B | - |
| May 2021 | Series D | $3.2B | 14.1x |
Back Market Revenue
Back Market's latest recorded revenue is $227M, as of its Series D in May 2021. At a $3.2B valuation, that implies a 14.1x revenue multiple.
Back Market revenue by funding round
| Date | Revenue * | Valuation | Revenue Multiple | Stage |
|---|---|---|---|---|
| May 2021 | $227M | $3.2B | 14.1x | Series D |
* Revenue (or ARR) figures are the values recorded alongside each funding round. Typically run-rate revenue at the time of the deal, or a reported LTM (last 12 months) revenue.
Back Market Funding History
Back Market has raised a total of $1B across 6 funding rounds.
Back Market's first fundraising round was a $300K seed round in May 2015. The most recent completed round was a $504M Series E in January 2022.
Back Market funding rounds
| Date | Stage | Investors | Raised | Valuation | Deal Summary |
|---|---|---|---|---|---|
| Jan 2022 | Series E | Sprints Capital (lead); GS Capital; General Atlantic; Aglaé Ventures; Generation Investment Management; Eurazeo | $504M | $5.7B | Back Market is a leading global marketplace specializing in premium refurbished electronics, connecting buyers with vetted professional refurbishers across 18 markets. The platform emphasizes quality control, fair pricing, and sustainability, having served 17 million customers globally and sold over 30 million devices since 2014, avoiding significant carbon emissions. In January 2022, the company achieved a $5.7 billion valuation, with total funding exceeding $1 billion across multiple rounds, including participation from investors like General Atlantic and others. Back Market's business model is asset-light, deriving revenue primarily from seller commissions (fixed 10% of GMV), consumer service fees, and growing add-on services like insurance and warranties, with an effective take rate rising to 14.8% by 2024. GMV metrics show strong growth, reaching $2.8 billion in 2024 and forecasted at over €3 billion ($3.2 billion) in 2025, with the US emerging as the second-largest market after France. The company has expanded into B2B, serving nearly 6,000 business customers in France and 250 in the US by 2025, with partnerships including Verizon's Visible, Sony, Bouygues Telecom, and enterprises like Kering and Air France. Back Market has achieved profitability in its 13 European markets, outpacing competitors like Refurbed and Swappie, and continues scaling with double-digit growth in key markets like the UK (80% YoY GMV) and triple-digit gains in Italy, Austria, and Portugal. |
| May 2021 | Series D | General Atlantic (lead); Generation Investment Management (lead); Daphni; Aglaé Ventures; Eurazeo; Goldman Sachs Growth Equity | $338M | $3.2B | Back Market is a leading online marketplace for premium refurbished electronics, connecting buyers with vetted professional refurbishers in 18 markets without directly refurbishing devices itself. Founded in 2014, it operates an asset-light model with over 2,700 refurbishers listing inventory, emphasizing quality control, fair pricing, and sustainability to shift consumer preferences toward renewed tech over new devices, reducing electronic waste. On May 17, 2021, Back Market raised $335 million in a Series D round led by General Atlantic and Generation Investment Management, with participation from Aglaé Ventures, Daphni, Eurazeo, and Goldman Sachs Growth Equity, achieving a post-money valuation of $3.2 billion. The funding supported global expansion, particularly doubling down in the US market, which later became its second-largest by size, alongside strong growth in Europe including France, UK, Germany, Spain, Italy, Austria, and Portugal. The company reported $227.48 million in revenue for 2021, reflecting robust traction with a growing customer base that reached 17 million globally by 2025. Revenue derives primarily from seller commissions (around 10% of GMV), consumer service fees, and add-on services like insurance and warranties, with an effective take rate improving to 14.8% by 2024. GMV hit $2.3 billion in 2023 and $2.8 billion in 2024, with forecasts exceeding €3 billion ($3.2 billion) in 2025. Back Market achieved profitability in its 13 European markets and scaled B2B sales to thousands of business customers, partnering with carriers like Verizon's Visible and OEMs like Sony. It outperformed competitors like Refurbed and Swappie through unit economics and market penetration, with subsequent funding including a $510 million round in January 2022 valuing it at $5.7 billion led by Sprints Capital, bringing total investment over $1 billion. |
| May 2020 | Series C | Goldman Sachs; Daphni; Aglaé Ventures; Eurazeo | $120M | - | - |
| Jun 2018 | Series B | Aglaé Ventures (lead); Groupe Arnault (lead); Daphni; Eurazeo | $48M | - | - |
| May 2017 | Series A | Aglaé Ventures (lead); Daphni (lead) | $8M | - | Back Market raised €7 million in early 2017 from investors Daphni and Aglaé Ventures. The French greentech startup operates a platform for buying refurbished electronic products as an economical and ecological alternative to new devices. It works with over 130 factories and refurbishing workshops. |
| May 2015 | Seed | Thierry Petit | $300K | - | - |
Who has invested in Back Market?
11 investors have backed Back Market across its funding rounds, including Aglaé Ventures, Eurazeo, Daphni, General Atlantic, Generation Investment Management and Goldman Sachs.
Lead investors include Sprints Capital, General Atlantic, Generation Investment Management, Aglaé Ventures, Groupe Arnault and 1 other investor.
Back Market Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| 5 | Lead | May 2017 | ||
| 4 | Lead | May 2017 | ||
| 4 | Participant | Jun 2018 | ||
| 2 | Lead | May 2021 | ||
| 2 | Lead | May 2021 | ||
| 1 | Participant | May 2015 | ||
| 1 | Participant | Jan 2022 | ||
| 1 | Lead | Jan 2022 | ||
| 1 | Participant | May 2020 | ||
This data is available for Pro users. Sign up to see all 11 Back Market investors. Start Free Trial | ||||
Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples
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Start Free TrialBack Market Competitors
Back Market competitors include listed companies like Openlane, Inchcape, Meesho and ACV Auctions, and private ones like Snapdeal and Rappi.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Private | $26M | - | $6.5B | - | ||
| Publicly listed | $1.9B | $302M | $4.2B | 2.2x | ||
| Publicly listed | $12B | $867M | $3.7B | 0.4x | ||
| Publicly listed | $1.3B | ($143M) | $10B | 6.3x | ||
| Publicly listed | $760M | ($19M) | $1.8B | 2.1x | ||
| Private | $856M | - | $5.3B | 6.1x |
Back Market Public Comps
Back Market is still privately-owned, but its public comps include Vipshop, Lyft, Scout24, Zalando, Alibaba Health, Autotrader Group, CTS Eventim, Vend Marketplaces, Mango Excellent Media and Global-e.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $16B | $1.5B | 0.2x | 0.2x | 2.1x | 2.2x | |||
| $6.3B | $103M | 0.8x | 0.8x | 52.0x | 8.2x | |||
| $748M | $385M | 8.6x | 7.6x | 16.8x | 12.7x | |||
| $14B | $784M | 0.4x | 0.4x | 7.6x | 5.2x | |||
| $5.1B | $278M | 0.9x | 0.9x | 16.6x | 15.4x | |||
| $838M | $558M | 6.5x | 6.4x | 9.8x | 9.7x | |||
| $3.5B | $622M | 1.4x | 1.3x | 7.9x | 7.1x | |||
| $673M | $19M | 7.3x | 7.1x | 252.4x | 19.2x | |||
This data is available for Pro users. Sign up to see all Back Market competitors and their valuation data. Start Free Trial | ||||||||
Common questions about Back Market
| When was Back Market founded? | Back Market was founded in 2014. |
| Where is Back Market headquartered? | Back Market is headquartered in Paris, France. |
| Is Back Market publicly listed? | No, Back Market is a private, VC-backed company. |
| What is Back Market's valuation? | Back Market was last valued at $5.7B in its Series E in January 2022. |
| How much funding has Back Market raised? | Back Market has raised $1B across 6 funding rounds. |
| What was Back Market's last funding round? | Back Market's last funding round was a $504M Series E in January 2022, led by Sprints Capital. |
| Who are Back Market's investors? | Back Market's investors include Aglaé Ventures, Daphni, Eurazeo, General Atlantic, Generation Investment Management, Thierry Petit, GS Capital, Sprints Capital, Goldman Sachs, Groupe Arnault and 1 other. |
| What is Back Market's revenue? | Back Market's latest recorded revenue is $227M (May 2021). |
| What is Back Market's revenue multiple? | Back Market's latest valuation implies a 14.1x revenue multiple ($3.2B valuation on $227M of revenue). |
| Which companies are comparable to Back Market? | Companies comparable to Back Market include Snapdeal, Openlane, Inchcape, Meesho, ACV Auctions and Rappi. |
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