Context

Founded in 2008 in Germany and operating in Germany, Austria, France, Spain, Italy and Poland, asgoodasnew is the European circular economy pioneer for premium consumer electronics products such as smartphones, tablets, MacBooks and iMacs, cameras and lenses, smartwatches and other valuable gadgets.

Working from offices in Berlin and Frankfurt (Oder), the company’s integrated consumer-to-business-to-consumer (C2B2C) business model covers the entire value chain of the re-commerce market from sourcing and testing to refurbishment and distribution.

In recent years, the company has demonstrated its ability to deliver double-digit profitable growth with high capital efficiency, and has achieved revenues close to EUR 70m as of today.

In the context of a booming circular economy market fuelled by new consumption behaviours and consumers’ ecological consciousness, asgoodasnew sought a financial partner to accelerate its European expansion.

The investment from Verdane, a tier-one tech-focused northern European private equity investor with EUR 2bn of assets under management, alongside some existing shareholders, will support asgoodasnew’s next phase of development and strengthen its position as a second-hand consumer electronics pioneer and leading provider for European customers.

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About asgoodasnew

Founded in 2008 and based in Germany, asgoodasnew is the European circular economy pioneer for premium consumer electronics products such as smartphones, tablets, MacBooks & iMacs, cameras & lenses, smartwatches and other valuable gadgets. Working from offices in Berlin and Frankfurt (Oder), the company covers the entire value chain of the European re-commerce market. Through its own sourcing, operations and sales platforms, asgoodasnew has developed a unique vertical business model with extensive technical know-how and direct access to millions of end consumers. To date, asgoodasnew has helped over one million customers throughout Europe to reduce their ecological footprint by finding a new home for their preloved gadgets or helping them purchase a fully tested, refurbished device.

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About Verdane

Verdane is a specialist growth equity investment firm that partners with ambitious northern European tech-enabled businesses to help them reach the next stage of international growth. Verdane pioneered portfolio acquisitions in Northern Europe in 2003, and announced a complementary fund strategy entirely dedicated to direct investments in 2018. Verdane’s eight funds hold EUR 2.1bn in total commitments and have made over 120 investments into category leaders in digital consumer, energy & resource efficiency and software businesses. Verdane’s team of 62, based in Berlin, Copenhagen, Helsinki, London, Oslo and Stockholm, is dedicated to being the preferred growth partner to tech-enabled businesses in northern Europe.

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Greg Revenu

Investment Banking

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Jonathan Foiret-Hurbin

Investment Banking

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Clément Decante

Investment Banking

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Daniel Seroux

Investment Banking

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Deal Team

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