Iris Capital has led an expansion fundraising round for reBuy reCommerce.
The equity investment will allow reBuy to grow its re-commerce business (which gives a second life to goods through new distribution channels) of entertainment products ranging from mobile devices, Apple products, tablets and video consoles to books, video games, DVDs and CDs.
As investor, Iris Capital joins a group of German private and venture capital investors, among them Hasso Plattner Ventures, DuMont Venture, Mountain Cleantech and Klaus Wecken.
Created in 2004 and originally named trade-a-game, reBuy is today the leading player in the German re-commerce market for entertainment products. The company provides a platform for the trading of pre-owned goods and devices in multiple categories. reBuy sources the products from individuals who can sell their products for a fixed price to rebuy and from business partners. reBuy refurbishes all products and sells them through a multichannel distribution network back into the market.
Lawrence Leuschner, co-chief executive officer of reBuy, says: “We are excited to welcome Iris Capital to our investor group. The investment allows us to pursue with full speed our expansion strategy. This is a very rich market, which offers immense opportunities for reBuy. The financing and Iris’ knowledge of logistics and e-commerce operations will help the company expanding on a much larger scale.”
Erkan Kilicaslan (pictured), partner at Iris Capital, says: “There are several companies that buy and sell used goods. However, reBuy’s growth over the last years, the exceptional quality of its management team and an extremely well set up logistics operation have convinced us that reBuy will build out its leading position and become the winner in the re-commerce market. We, as Iris Capital, want to contribute and be part of this success story.”
