reBuy Receives EUR 21 Million from International Investors
reBuy, a Mountain Partners portfolio company, successfully closed a financing round totalling EUR 21 million both from existing as well as new investors. In addition to three international investors, the management team of the Berlin-based company also joined the financing round.
reBuy’s business model has the mission of meeting our throw-away society with a simple, sustainable alternative. The vision of reBuy is to present used goods as a conscious alternative to new products, without compromising in aesthetics or functionality, but while offering greatly reduced price. Furthermore, the company aims to make hidden capacities usable and extend the lifecycle of products.
The newly accumulated capital will be used to further push internationalization, for the strengthening of the brand (brand reinforcement) and the constant improvement of customer satisfaction. With their own investment the management sends a clear signal. Torsten Schero, CEO of reBuy states that “there is no better way to show customers, colleagues and investors how much we believe in reBuy and our business model. With our fresh capital, we cannot be stopped in our internationalization strategy.”
The private equity fund from Evoco, which was already invested in reBuy, is the new lead investor. Michel Galeazzi, partner and co-founder of Evoco said: “with reBuy we invest in a profitable and sustainable business model. Our trust belongs to a management team that will make reBuy internationally successful.”