Iris Capital, a venture firm backed by multiple corporations, has led an expansion round of fundraising for ReBuy, a Germany-based online marketplace for secondhand electronics and consumer goods.
ReBuy was previously backed by DuMont Venture, the corporate venturing unit of local publisher M DuMont Schauberg whose portfolio is now managed by the same team who spun off to form Capnamic Ventures.
Through its OP Ventures Early Stage fund, Iris has a partnership with Capnamic to co-invest in German digital economy start-ups. Iris is investing alongside the Capnamic Ventures Fund in ReBuy.
Hasso Plattner Ventures, the family office of the eponymous co-founder of Germany-listed software provider SAP, and private investor Klaus Wecken also participated in ReBuy’s round, as did venture capital firm Mountain Cleantech Fund II, which increased an existing stake that it took in 2011.
Using a “re-commerce” model, ReBuy allows consumers to sell on their old electronic devices, mobile phones, CDs, DVDs and computer games, with more than one million products sold through the platform each month, according to a company press release. Its 2012 annual revenues were more than $50m.