asgoodasnew partners with Verdane to accelerate re-commerce revolution in high-tech consumer electronics
BERLIN / OSLO, December 11, 2020 – Verdane, the Northern European specialist growth investor, has announced its investment in asgoodasnew, the Berlin-based European re-commerce leader specialising in high-tech consumer electronics. Besides Verdane, the existing shareholders Brandenburg Capital, Munich Venture Partners, and PDV also participated in the financing round. The investment will support asgoodasnew’s successful business development and further international expansion, drawing on Verdane’s extensive knowledge of the European re-commerce space and experience from over 30 previous e-commerce investments. To date, asgoodasnew has helped over 1,000,000 customers throughout Europe to impact their ecological footprint by finding a new home for their preloved gadgets or helping them purchase a fully tested, refurbished device. Powered by this change in consumers’ perception and behaviour, asgoodasnew’s revenues have grown by more than 150 per cent over the past 5 years.
Daniel Boldin, CEO of asgoodasnew said: “With Verdane onboard, we will strengthen our pioneering position in European consumer electronics re-commerce as the preferred supplier for high-tech gadgets, tested and reconditioned in Germany. The take, make and dispose model for consumer electronics is going to perish. There is a huge and environmentally impactful business opportunity in enabling consumers to extend the lifecycle of their beloved high-tech gadgets. asgoodasnew’s success shows that it is possible to combine a circular business model with double-digit profitable growth and high capital efficiency.”
Founded in 2008, asgoodasnew operates in Germany, Austria, France, Spain, Italy and Poland. According to the company’s calculations, each of its more than one million reconditioned and resold iPhones, laptops, tablets, cameras, smartwatches and wifi speakers sold save up to 50kgs of CO2 compared to new production of a corresponding gadget, tallying to a total potential CO2 savings impact of 50,000 tonnes of CO2 to date. By partnering with Verdane, the company aims to offer more customers a smart and affordable way to impact their individual ecological footprint.
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, delivering a strong value proposition with high customer retention rates and independence from third parties. A popular feature is its comprehensive 30-month warranty, offered on all products since 2014 as a testament to asgoodasnew’s extensive technical know-how, and pioneered by the company since then on multiple European markets. Building on its early understanding of the need for a more sustainable approach for consumer electronics consumption and driven by short customer usage cycles resulting from frequent new product releases, asgoodasnew has emerged as a European leader for refurbished premium consumer electronics.
Maroje Guertl, Principal in the Berlin office of Verdane added: “We are proud to reaffirm Verdane’s commitment to a more resource-efficient future for the European consumer by welcoming asgoodasnew into the Verdane portfolio. Daniel and his team have done an excellent job of building asgoodasnew into a clear leader in its sector with a strong position from which it can develop into a substantially larger European market leader. There is natural complementarity with Verdane’s deep knowledge of the European re-commerce space from prior investments, and we are proud to partner with asgoodasnew on this journey toward circularity for the high-tech consumer electronics market.”
Thomas Krause, Chairman of the Advisory Board and Managing Director at Brandenburg Kapital, said: “On behalf of the board, we are very pleased to announce this partnership with Verdane as we set out to accelerate the successful European expansion of the company. We believe we have found the ideal growth partner to help realise our joint vision of asgoodasnew’s future together with Daniel and his team.”
About asgoodasnew electronics GmbH (www.asgoodasnew.de)
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 1,000,000 customers throughout Europe to impact their ecological footprint by finding a new home for their preloved gadgets or helping them purchase a fully tested, refurbished device.
About Verdane (www.verdane.com)
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 €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.
Further Information: https://verdane.com
Image: Asgoodasnew CEO Daniel Boldin (c) Asgoodasnew