Sprints Capital led a $510m Series E funding round in Back Market.

Sprints Capital, a private equity firm, led a $510m Series E funding round in Back Market, an online marketplace for refurbished electronics. Additional investors include Eurazeo, Aglaé Ventures, General Atlantic and Generation Investment Management. “Our goal is to make refurbished electronics the first choice for tech purchases. We expect to see a similar development in the electronics market as we have witnessed in the pre-owned car market in America, where consumer confidence in buying second-hand vehicles has resulted in sales that have increased twofold compared to new car sales. The support and confidence of these funds, together with our growing customer base, marks an important step in Back Market’s journey, and more importantly, for the circular economy as a whole," Thibaud Hug de Larauze, Back Market Co-Founder and CEO.