Ringy Acquires UPGREAT, Expands Refurbished Electronics

In a strategic move to consolidate its position in the burgeoning circular economy for electronics, Estonia-based recommerce platform Ringy has acquired UPGREAT, the largest refurbished electronics retailer in the Baltics. This union, bolstered by an undisclosed investment round led by Trind VC, aims to significantly expand the reach and capabilities of refurbished device sales across the region.

The combined entity is projecting a substantial revenue of €26 million for 2026, signaling strong growth potential in a market where refurbished electronics currently represent a single-digit percentage of the overall device market. Ringy, established in 2021, has already facilitated the resale of over 100,000 devices across nearly 40 international markets, preventing an estimated 4,500 tonnes of CO₂ emissions. The acquisition of UPGREAT, which boasts physical retail locations in Estonia and Latvia and in-house refurbishment expertise, is set to accelerate this environmental impact.

Kristo Kraft, CEO of Ringy, emphasized the critical need for robust infrastructure to support circularity. "Circularity requires more than consumer demand. It needs convenient take-back channels, professional testing and repair, reliable warranties and efficient routes for devices to reach their next owners," Kraft stated. "By joining forces with UPGREAT, we can strengthen that infrastructure across the Baltics and return significantly more electronics to productive use." This integration will enhance refurbishment capacity, diversify product offerings, and fortify the trade-in, repair, and resale ecosystem.

UPGREAT, known for its rigorous inspection processes conducted by Apple-certified technicians and its provision of warranties up to two years, will continue to operate under its established brand. This continuity ensures a seamless customer experience while leveraging the expanded operational scale. Kristjan Nemvalts, CEO of UPGREAT, highlighted the shared vision: "UPGREAT and Ringy share the same mission: to make refurbished electronics as natural a consumer choice as buying a pre-owned car. Together, we can offer customers a larger and more diverse selection of professionally inspected devices while creating a strong foundation for regional growth."

The investment from Trind VC, a long-term supporter of Ringy, underscores confidence in the company's strategy to build a comprehensive recommerce platform. This funding will be instrumental in scaling Ringy's operations, covering the entire lifecycle of electronic devices from initial trade-in and evaluation through to repair, resale, and eventual reuse. The partnership is strategically positioned to capture a larger share of the Baltic electronics market by offering a more complete and trustworthy solution for consumers seeking sustainable alternatives.

This consolidation is particularly significant given the current market dynamics. The global market for refurbished consumer electronics is projected to grow substantially in the coming years, driven by increasing consumer awareness of environmental issues and the rising cost of new devices. By combining their strengths, Ringy and UPGREAT are well-equipped to lead this transition in the Baltic region, setting a benchmark for circular business models in the technology sector.