The Series C round brings the total amount raised by the company to €149 million. Its first funding round was in 2018, and in June 2020, Swappie announced a Series B round of €35.8 million, which coincided with its push into a number of European markets.in 2020, has earmarked the market here for investment, deepening ties with local Irish partners, and improving customer experience.
The funding will be used to bolster its European expansion and accelerate growth of the category. Figures cited by the company claim the refurbished market is set to grow at an annual growth rate of 10.23 per cent between 2022 and 2027, with consumers becoming increasingly eco-conscious and reputable refurbished options available to them.
Swappie currently employs 1,200 people, a number it expects to climb to 2,200 by the end of the year.