France’s SOS Accessoire raises £12M to help people repair their home appliances themselves
SOS Accessoire, a French startup that helps people diagnose and repair their home appliances, has raised €10M/$12M in a funding round led by ETF Partners. The round was joined by Quadia, Starquest, and Seed for Good.
There is now a growing home repair market, powered by startups like this, which allow people to save money, but also reduce waste, and ultimately help the environment.
Around 80% of home appliances get replaced instead of repaired, creating an enormous environmental problem. At the same time, says SOS Accessoire, the spare parts market is worth €4.1bn in the European Union alone. So why not tap into that consumer desire? Why indeed not.
However, sourcing spare parts is not easy, there are hundreds of suppliers, and instructions are aimed at professionals, not amateur repairers.
SOS Accessoire provides tools to diagnose home appliance problems, access spare parts, and provides video tutorials for the repair process.
The company says it estimates it has now saved half a million appliances in 2020, equivalent to 20,000 tonnes of CO2 emissions, or the annual equivalent of CO2 emissions from 4,375 French people a year.
Olivier de Montlivault, the founder of SOS Accessoire, said: “We have a huge opportunity to help reduce household appliance waste and, in doing so, disrupt the perceived thinking that once something is broken, it must be replaced.”
Its direct competitors are other digital players focusing on the retail customer such as Spareka and Adepem. But SOS Accessoire says its competitive advantages include its size, availability of spare parts and catalog/database.
Remy de Tonnac, a partner at ETF Partners, said: “We’re seeing an increasingly conscious consumer wanting to maintain their appliances, rather than just throw them away. SOS Accessoire is ideally placed to meet that need, with a management team that has a deep understanding of the market and the business model to not only dominate this niche within the e-commerce sector but disrupt the broader market itself.”
SOS Accessoire, a French startup that helps people diagnose and repair their home appliances, has raised €10M/$12M in a funding round led by ETF Partners. The round was joined by Quadia, Starquest, and Seed for Good. There is now a growing home repair market, powered by startups like this, which…
