Save Market to raise €1 million from Tomcat Invest and Daphni.

Save Market, a Paris, France-based startup building a marketplace for refurbished consumer electronics, announced the completion of a €1 million ($1.2M) capital funding round.

The money was raised from investors from France, including Tomcat Invest and Daphni. Proceeds will be used to move on to a new stage of the development.

Save Market, founded in 2019 by Yoann Alvarez and Gary Chiche, developed a simplified take-back and reconditioning process among companies owning large inventories of electronic devices in order to manage and combat inefficiencies related to electronic waste.

The company operates a B2B marketplace supporting the repurchsing of electronic devices from other organisations - they register the equipment to be sold, receive a quote, schedule a collection date and receive payment. Save Market manages the entire process, from logistics to the refurbishment of the material.