Flip.ro closes record year with € 80.9 million in sales and looking to expand trade-in into Western Europe

Romanian refurbished electronics platform Flip.ro has closed its fiscal year 2024 with a strong performance, reporting € 80.9 million in gross merchandise volume (GMV). That marks a 45% year-over-year increase from € 56 million, underlining the company’s sustained momentum in the secondary electronics market. Flip.ro now serves more than 650,000 customers. Flip has not disclosed any net profit figures today. However, the company reported a net loss of €3.7 million last year, slightly lower than the €3.9 million loss recorded in 2022.

Source: https://www.romanian-companies.eu/

Core team supports refurbishment scale

Flip employs 286 staff, over 200 of whom are active in operations and refurbishment roles, such as device servicing, pricing, and logistics. Smartphones remain the company’s top-selling category, but 2024 also saw new growth from smartwatches, laptops, and tablets. These additional categories are seeing repeat purchases, often from customers returning after initially buying a refurbished Apple iPhone.

Buyback program powers supply chain

A cornerstone of Flip’s strategy has been its growing “Easy Buyback” program, run in collaboration with eMAG and other regional partners. The initiative allows customers to sell used devices 100% online when buying a new one, streamlining trade-ins and boosting supply. With services now available in over 450 retail locations across Romania, Bulgaria, and Hungary, buyback usage has more than doubled, growing 142% year-over-year.

Southeast Europe drives international growth

Flip’s international operations are gaining ground, especially in Greece, Bulgaria, and Hungary. Greece saw over ninefold growth in both volume and value after its 2023 launch, while Bulgaria recorded an 83% increase in units sold and Hungary a 77% increase. Localized marketing, strategic partnerships, and flexible pricing have played key roles in this expansion.

Plans for 2025: more products, more markets

Looking ahead, Flip.ro will expand its refurbished lineup to include gaming consoles, such as the PlayStation 4 and 5, while also making laptops and smartwatches available through physical retail outlets. The company is actively testing AI-driven tools to enhance device assessments and plans to double its retail partnerships in Southeast Europe. Expansion into Western Europe is under consideration through trade-in programs.