refurbed - circular economy as an international opportunity

When the first iPhone debuted in 2007, it revolutionised not only our interaction with technology but also our consumption habits. With new models released annually, consumers were encouraged to replace old devices with the latest offerings, each promising hotter features than the previous series.

This relentless upgrade cycle, however, comes at a cost. The EU alone accumulates over 4.7 million tons of electronic waste annually, prompting sparks of innovation from entrepreneurial minds.

Impact and expansion: refurbed's strategic growth

One of them is Kilian Kaminski, the 33-year-old co-founder of refurbed, a rapidly growing online marketplace for refurbished products based in Vienna. Launched in 2017 with partners Peter Windischhofer and Jürgen Riedl, the trio leveraged their backgrounds in e-commerce, consulting and IT to tackle the wasteful practices of the electronics industry and change the rules of the recycling game. By collecting, refurbishing, and reselling various electronic devices, the merchants on refurbed offer consumers the opportunity to save up to 40% of their usual costs. Their devices also come with a test period and warranty – and, they make an impact.

The gamble to shift from secure employment to entrepreneurship has paid dividends. In 2023, refurbed exceeded a billion euros in accumulated external sales, and is expected to become Austria's next unicorn

Indeed, refurbed champions sustainable practices through political advocacy, actively lobbying for sustainability policies at national and international levels and participating in legislative review processes. Its involvement in groups such as the European Refurbishment Association (EUREFAS), for which Kilian acts as a board member, further underscores the commitment to shaping sustainable policies.

“In the end, it all boils down to the value one can offer to consumers, and in our case, that means being sustainable while also being more affordable”, explains Kilian. “Usually, eco-friendly options are costly, but our products provide a cost-effective alternative, encouraging more sustainable consumer choices”. 

Following a rebrand in early 2024, refurbed aims to further build on their successes. The company has launched a calculation model that evaluates the ecological balance data for around 10,000 electronic products in cooperation with Fraunhofer Austria. Initial results clearly show that the use of refurbished devices reduces the respective footprint significantly, and in the case of refurbed, this means having already saved 270,000 tonnes of CO2, 94 billion litres of water, and 885 tonnes of electronic waste since their founding in 2017.

The city of Vienna proved to be a supportive environment for refurbed, as Kilian explains: “The Greentech sector in Austria is vibrant and inspiring, and Vienna was a deliberate choice when it came to our company location - right in the heart of Europe. This is also how we see ourselves: As a circular economy company aiming to position Europe as a leader in sustainability”.

A huge part of their success is also due to support and funding from institutions such as the Vienna Business Agency and AWS, especially in the early years. “What refurbed is today would not have been possible without such funding,” says Kilian - and also without the support of investors, whom Kilian and his team were able to convince from close to day one.