French Smartphone Seller Reaches $5.7 Bln Valuation

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Back Market, the French marketplace that focused mainly on refurbished electronic devices, raised its overall market valuation to $5.7 billion after a new round of investments of $510 million.

The latest round of investments was led by London-based private equity firm Sprints Capital, alongside French companies Eurazeo and Aglae Ventures, General Atlantic and Generation Investment Management.

Back Market said the new funds will be used for products that rely on circular technology – technology products that can be reused and are more sustainable.

For more information, read the original story in Reuters.

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