Back Market has announced an investment round of €276 million, which it said will allow the company to accelerate its business in Ireland.
The investment was led by General Atlantic, along with Generation Investment Management and existing investors Aglaé Ventures, Eurazeo, Goldman Sachs Growth Equity and daphni.
The company said the Series D round will allow Back Market to meet the "strong demand" of the Irish market.
It said it intends to accelerate recruitment for its Irish team and take a leadership position in this country.
It currently employs a team of 480 employees across its four offices located in New York, Berlin, Paris and Bordeaux.
According to Back Market, the world generates over 50 million tonnes of electronic waste each year.
It said it offers an alternative that has the potential to shift "unsustainable consumption patterns".
Back Market’s co-founder and CEO, Thibaud Hug de Larauze, said their goal goes beyond making renewed technology a viable option.
"We want to make it the first choice for electronics purchases.
"The support and confidence of these prominent funds, together with our growing customer base, marks an important step in Back Market’s journey, and more importantly for the refurbished sector as a whole," he said.
