With 5.1 billion euros in valuation, Back Market exceeds the start-up Qonto, valued at 4.4 billion euros. On Tuesday, the two companies respectively raised 450 and 486 million euros.
The truce of the confectioners will not have curbed the appetite of French Tech. The new year has barely started, the French ecosystem already has three additional unicorns. After PayFit and Ankorstore, it is Qonto’s turn to join the club of start-ups valued at at least one billion dollars. The neobank, which targets very small businesses and SMEs, has completed a round of funding in series D of 486 million euros led by the American funds Tiger Global Management and TCV.
This operation allows the young French shoot to increase its valuation to 4.4 billion euros. A record … which only lasted a few hours! Because the same day, Back Market, specialist in the resale of refurbished electronic products online, announced a fundraising of 450 million euros from Sprints Capital, Eurazeo, Aglaé Ventures, General Atlantic and Generation Investment Management. Now, the company not only overtakes Sorare, valued at 3.8 billion euros since its raising of 580 million euros, the largest for French Tech to date, announced last September, but also Qonto. In fact, the valuation of Back Market now stands at 5.1 billion euros.