Thibaud Hug de Larauze, Back Market founder.

Interview

September 24, 2024

‘We didn’t go through these painful processes for nothing’: How French unicorn Back Market turned its business around in the funding crisis

The scaleup, which has raised over $1bn to date, had to adjust to a difficult fundraising context in 2022 — but now seems to be back on track

There are few European tech companies that have surfed the choppy waters of the past two years’ fraught VC market as much as Back Market. In 2022, the French unicorn, which provides an online platform to buy and sell refurbished electronics, laid off 93 employees (13% of the total workforce) and paused international expansion efforts.

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Daphné Leprince-Ringuet

Daphné Leprince-Ringuet is a senior reporter for Sifted, based in Paris. She covers French tech and writes Sifted's AI and Deeptech newsletter . You can find her on X and LinkedIn

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