Austrian marketplace Refurbed has reached a remarkable € 2 billion in Gross Merchandise Value (GMV), just over two years after hitting its first € 1 billion milestone that took 5 years. This rapid doubling of total transaction value reflects the platform’s accelerating growth and rising consumer interest in sustainable alternatives like used smartp hones, tablets, sports gear, and even baby equipment.
Understanding what GMV means
GMV, or Gross Merchandise Value, is a commonly used metric to assess the scale of a marketplace. It represents the total value of goods sold via the platform, before deductions like returns, platform fees, or discounts. While GMV is not revenue, it is a vital indicator of platform volume and user adoption. For example, 100 Apple iPhones sold at €400 each would reflect €40,000 in GMV—even if the platform only takes a 10% commission.
Expanding product categories and markets
Refurbed’s recent growth stems not only from increasing consumer demand but also strategic expansion. Since its founding in 2017, the platform has launched in 12 European countries, including Finland, Portugal, and the Czech Republic. It has also diversified its product portfolio, recently adding Kids & Baby Equipment. Over 4 million refurbished products have been sold in Germany alone.
Consumers drive sustainable growth
This € 2 billion GMV milestone is more than a number—it’s a signal that circular consumption is going mainstream. Refurbed’s founders credit their team, partners, and customers for helping shift consumer habits toward more environmentally conscious choices. With 64% brand awareness in Austria, the platform is leading a growing movement across Europe that could make refurbished the default.
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