French refurbishment specialist Largo has secured € 3 million in funding to drive its growth strategy within the circular tech economy. The capital is evenly split between a € 1.5 million equity injection from Vatel Capital and Eiffel Investment Group, and a € 1.5 million convertible bond issuance fully subscribed by Eiffel.
Retail partnerships drive revenue growth
The newly raised funds will support the execution of two strategic retail agreements signed in 2025 and help Largo strengthen its operational resilience. These developments are expected to increase refurbished device volumes, especially via the company’s growing operator channel, which now represents 64% of total revenue.
First half shows mixed performance
Largo reported € 14.5 million in revenue for the first half of 2025, a slight decline from € 15.7 million in the same period of 2024. However, Q2 revenue rose 6% year-on-year to € 6.6 million, buoyed by strong retail channel performance and full-year impact of partnerships with Bouygues Telecom and other operators in French overseas territories.
Financing improves cash position
Following this new capital injection, Largo’s cash position stood at € 3.9 million on 30 June 2025. According to co-founders Christophe Brunot and Frédéric Gandon, the funding will ensure Largo’s ability to support growth, secure device sourcing and improve profitability metrics throughout the second half of the year.
Circular economy drives long-term strategy
Founded in 2016 and employing 87 staff in Sainte-Luce-sur-Loire, Largo has become a vertically integrated refurbishment player. Its 2024 turnover of € 34.8 million was fuelled by over 500,000 refurbished smartphones. With an in-house process covering sourcing, testing, repair, and distribution, Largo remains committed to building a circular tech economy in France.
Market
Trade-in
Repair
Refurbishing
