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"reBuy, an online marketplace for physical second-hand goods including CDs, video games, mobile phones and tablets, has today announced an expansion round led by Iris Capital.\r\n\r\nThe equity investment, which is an undisclosed amount, will be used to expand and develop its \u2018recommerce business\u2019 in Germany.\r\n\r\nA group of German private and venture capital investors, including Hasso Plattner Ventures, DuMont Venture, Mountain Cleantech and Klaus Wecken, have also backed reBuy, although it\u2019s not clear if they were involved in this particular round.\r\n\r\nreBuy was launched in 2004 under the name trade-a-game, but has since rebranded after it expanded into a range of other products including mobile phones, tablets and video game consoles.\r\n\r\nIt differs from an online marketplace such as eBay, however, because it buys all the second-hand products from its users at a fixed price. That includes everyday folks such as you and me, but really, it\u2019s tailored towards large businesses with overstock, store samples, returned goods and trade-in devices.\r\n\r\nOnce they\u2019ve been delivered, reBuy then refurbishes every product before selling them on through a \u201Cmulti-channel distribution network\u201D back into the market.\r\n\r\nLawrence Leuschne, co-CEO of reBuy, is tight-lipped at the moment about the company\u2019s strategy moving forward.\r\n\r\n\u201CThe investment allows us to pursue with full speed our expansion strategy,\u201D he said. \u201CThis is a very rich market, which offers immense opportunities for reBuy. The financing and Iris\u2019 knowledge of logistics and e-commerce operations will help the company expanding on a much larger scale.\u201D\r\n\r\nIris Capital is a pan-European venture capital fund manager specializing in digital economy. Most recently, they\u2019ve been involved in a $2.3 million batch of funding for BuyBox, a company that provides social payment solutions to online retailers.\r\n\r\nPerhaps more notably, they were also involved in a $13.5 million Series A funding round for the app discovery service AppGratis. Since it was founded in 1986, Iris Capital has invested over \u20AC900 million in more than 210 companies.\r\n\r\nImage Credit:\u00A0Justin Sullivan/Getty Images\r\n"^^<http://www.w3.org/2001/XMLSchema#string>
<http://thenextweb.com/insider/2013/03/20/rebuy/>