Online auction platform for used business equipment
TBAuctions at a glance
TBAuctions, Europe’s leading digital auction platform for B2B used goods, operates with over 1,300 team members across Europe. Embracing the belief that “Everything Has Value,” TBAuctions utilizes technology, automation, and economies of scale to streamline auction processes. Their proprietary TBAuctions Platform facilitates intelligent, cross-border auctions, enhancing user experience through self-service and precise matching of supply and demand. TBAuctions champions sustainable global trade, annually auctioning millions of local products worldwide.
- Year acquired
- 2022
- Location
- The Netherlands
- Employees
- 1343
- Website
- https://tbauctions.com/
- Investment theme
- Circularity
- Contact
- christian.melby@summaequity.com
- Gross profit
- EUR 175m
- SDG alignment
12, 13
What are the challenges TBAuctions addresses
-
2x
estimated increase in global raw material usage by 2060, causing severe environmental damages
-
11.5%
of materials used in European industries come from recycled sources, with EU aims to raise this to 23% by 2030
How does TBAuctions help?
-
Reality today
Unsustainable consumption leads to resource depletion as valuable assets may become unused or discarded, while reused goods often change hands through informal transactions, contributing to reduced illicit financial flows and price transparency.
-
TBAuctions approach
TBA enables the reuse and re-commerce of business assets, effectively decreasing the use of natural resources and waste. In addition, the platform facilitates secure and transparent transactions and compliance in core and emerging markets, giving buyers access to more modern technology at fair pricing.
-
Aspirational future
A less wasteful, more circular economy that provides equal access to fair and transparent pricing while supporting a prosperous environment and biodiversity.
-
Who is impacted?
Buyers globally benefit from accessing a wider selection of goods. Sellers gain access to a large base of potential customers and a global marketplace. The wider society and environment indirectly benefit as fewer resources need to be drawn upon due to the longer lifespan of already produced goods.
-
Contribution
TBA contributes to increased reuse of equipment, leading to more sustainable consumption and thereby less resource depletion and waste going to landfills. In addition, they contribute to a more transparent reused goods market.
-
Risks to impact
There is a risk that reselling old machinery may become unsustainable compared to new resource-efficient machinery. Additionally, the lower price levels of used and surplus goods on auction platforms vs new goods may promote increased consumption.