Refurbed scales 5x in volume sold, supported by Payor
Refurbed is the fastest growing online marketplace for refurbished products in the german-speaking world. The startup, which is based in Vienna, sells renewed phones, laptops and tablets which are up to 40% cheaper and 100% more environmentally friendly than their brand-new, store-bought counterparts. Refurbed devices are renewed through a 40-step process, making them look like new and function like new. On top of that, each device comes with at least a 12 month guarantee.
Refurbed grew five times its size and onboarded three times more merchants in 2019. The company relied on Payor to seamlessly manage payments and offer an exceptional merchant experience without requiring a significant time investment from Refurbed’s engineering team. Launching in Germany with Payor also laid the foundation for Refurbed to expand into nine other countries, including Austria, Poland, Italy and Spain. Given the continuity of using a single payments provider, Refurbed can maintain the same internal system to adapt to local requirements and payment preferences – factors which have been critical to increasing conversion rates in these new markets.
“If we had wanted to build a payments platform ourselves, we would have had to build a huge company in addition to Refurbed!”
Peter Windischhofer, Founder
Refurbed has the highest customer satisfaction in its industry with a 4.8/5 on Trusted Shops. This success is largely attributed to the quality of the products sold through its marketplace. With $45 million in gross merchandising volume, Refurbed is experiencing extraordinary growth. To sustain its success, Refurbed needed a payments partner that could help attract and retain the best merchants and scale its sales volume without additional effort from its team.
Refurbed integrated Payor into its marketplace to onboard new merchants and sell to users across 9 markets in Europe. Payor’s customisation capabilities also offered Refurbed a compelling way to deepen its relationships with its highest-performing merchants. For merchants who sell products with the best quality and service, Refurbed expedites their payout time. This extra incentive motivates sellers to maintain exceptional customer experiences, given how valuable working capital is to their success.