Romanian Startup Flip Builds Trust in Greece’s Refurbished Market

The opportunity for reuse and refurbishment is offered by the Romanian startup Flip, reducing costs for consumers and environmental impact, according to its founders. Based in Romania but now operating in four European markets—Romania, Bulgaria, Hungary, and Greece—Flip aims to change how we approach electronics by integrating refurbished products into a new consumption model centered on the circular economy and sustainability. Since its founding in 2019, Flip has served over 660,000 customers, achieving total revenue of €82 million. In less than two years since entering the Greek market, the company has already recorded €7.5 million in revenue, with more than 21,000 Greek consumers trusting their platform for buying or selling devices. Payments to users who sold through the platform have exceeded €90 million. Through device refurbishment and resale, the company has contributed to saving over 30,000 tons of CO₂ globally, while in Greece alone, from October 2023 onwards, over 1,500 tons of CO₂ emissions have been avoided. ‘For us, refurbished isn’t just an alternative—it’s the smart and environmentally responsible choice,’ stated George Moroianu, co-founder of Flip. He noted that in Greece, 80% of consumers had no prior experience with refurbished devices, yet 68% of those who made the switch are willing to buy again without hesitation. Regarding Flip’s journey in the Greek market, Moroianu emphasized that Greece stands out as one of the group’s most dynamic markets. The local strategy focuses on quality service, transparency, and accessibility for both buyers and sellers via trade-in. ‘The response from Greek consumers has been impressive. With a return rate of only 2.1%, over 1,500 positive reviews, and an NPS score reaching 75, the trust we’ve earned is measurable,’ highlighted Chryanthi Valianatou, Country Manager of Flip in Greece. Flip’s product portfolio includes smartphones, tablets, laptops, wearables, and consoles, with iPhones remaining the most popular. While in Western Europe, 20% of sold smartphones are refurbished—a significantly higher percentage compared to Eastern Europe—Flip sees vast growth potential. Global market forecasts are equally encouraging, with the refurbished products sector expected to grow from €15 billion in 2024 to €35.8 billion by 2032, surpassing even the growth rate of the new devices market.