For the second consecutive year, Irish Alchemy, one of the largest trade-in facilitator and reseller of used devices in Europe, has been featured in the Financial Times’ FT 1000 list, which ranks Europe’s fastest-growing companies. Founded in 2017, the company has established itself as a major player in the secondary technology market. Alchemy, ranked 750 in the list, is one of only 5 companies on the FT 1000 list with reported revenues exceeding € 500 million. Alchemy ranked in the top three for growth within this exclusive group. In 2023, the company reported revenues of € 658.9 million, reflecting an absolute growth of 211.4% and a compound annual growth rate (CAGR) of 46%.
Growth fueled by secondary tech demand
The increasing demand for high-quality secondary technology has been a key driver of Alchemy’s success. The company has refreshed over nine million devices, preventing 540 million kg of CO2 emissions, and expanded into more than 60 international markets. This growth highlights the broader global shift towards sustainable technology consumption.
Comparisons within the ranking
While Alchemy achieved remarkable revenue growth, other companies on the list also showed impressive expansion. Earlier this week we reported that German refurbisher Cykero ranked ninth, with revenues of € 12.5 million and an absolute growth of 8,520.7%. Although their revenue is significantly lower, their growth rate surpasses Alchemy’s.
Appreciation for team and partners
Alchemy attributes its success to its dedicated employees and strong partnerships. The company expressed gratitude to its team and collaborators, emphasizing their role in driving growth and sustainability.
Market
Trade-in
Repair
Refurbishing
