Refurbed announced securing $17 million in series A round led by Evli Growth Partners.

Refurbed, a Vienna, Austria-based operator of a marketplace for refurbished electronics, announced closing a series A investment round of $17 million.

The money was raised from investors led by the FInland-based investors Evli Growth Partners, with participation from Almaz Capital, FJ Labs, Bonsai Partners and All Iron Ventures. Existing investors Klaus Hofbauer and Inventure Partners also contributed to the round.

The proceeds will be used to develop the business in several new European markets.

Refurbed, founded in 2017 by Peter Windischhofer, Kilian Kaminski and Jürgen Riedl, built an online marketplace for refurbished electronic products including phones, laptops, tablets and other electronics and which are sold under a 12-month warranty.

The company currently operates in Germany, Austria, Italy and Poland, serving more than 150,000 European customers.

In 2019, Refurbed generated about $45 million in gross merchandising value (GMV) and expects to get to $100 million in 2020.

Refurbed previously raised $2.3 million in 2019.