Refurbished smartphone retailer Flip.ro to expand in Hungary

Flip.ro, a Romanian marketplace dedicated to the sale of refurbished smartphones, is preparing to enter the Hungarian market, Profit.ro reported.

It reported RON 65 mln (EUR 13 mln) revenues in the first half of 2022, triple compared to the same period last year. In 2021, Flip.ro recorded sales of EUR 13.4 mln, four times more than the year before.

Earlier this year, the company received EUR 6.5 mln capital injection from eMAG Ventures, which became a shareholder last fall. In total, eMAG Ventures invested EUR 8 mln in Flip.ro.

Launched in December 2019 by George Moroianu, Alin Luca and Alex Burghelia, Flip buys, refurbishes and sells phones.

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