Quadia invests in SOS Accessoire
Quadia is pleased to announce its participation as co-lead investor in the EUR 10m financing round of SOS Accessoire, the French leader in self-repair and online sales of spare parts for household appliances. The company offers online repair diagnostics, allows users to reduce their maintenance costs, to repair rather than to discard and replace, thus reducing the impact on both the environment and household budgets.
Quadia is investing through its Regenero Impact Fund, focused on the regenerative economy and managed in cooperation with the Belgian Bank Degroof Petercam. The investment is realized together with a group of aligned co-investors, including ETF Partners, Starquest and Seed for Good.
SOS Accessoire brings to the Home Appliances sector an innovative circular approach that is well aligned with Quadia’s impact investment strategy. Every year in France, 28 million household appliances break down, of which only 5 million are repaired. SOS Accessoire is contributing to change this trend with already 1.3 million appliances repaired and saved since launching in 2008, and more than half a million saved in 2020 alone. The French market for spare parts for household appliances is estimated at EUR 575m, incl. 20% from online sales, and growing at 15% per year. In Europe, where SOS Accessoire intends to extend its business, the market is estimated at EUR 4.1bn, including EUR 820m online.
Quadia believes that as one of the leading players SOS Accessoire is well positioned to move the home appliance market towards greater repairability. The company offers high level of customer service thanks to its large catalog of spare parts available online (13,500+ references), express shipping and the very competitive prices. SOS Accessoire also achieves highest levels of client satisfaction (9.7/10 on Avis Vérifiés – from 4200+ users) as it continues to develop a strong digital presence (approx. 1m users per month).
Marion Schuppe, Impact Investment Manager at Quadia, comments: “By extending the lifespan of home appliances, SOS Accessoire is a perfect addition to our investment portfolio, contributing to building a regenerative economy in sectors with significant impact on our environment and society. With its best-in-class logistics, deep value chain expertise and fully committed team, SOS Accessoire is on a path to reach more and more consumers in France and Europe, thereby increasing its positive impact while scaling-up operations. With its turn-key self-repair solution, SOS Accessoire contributes to reducing the extraction of virgin raw materials as well as the generation of electronic waste.”
Olivier de Montlivault, Founder and CEO adds that “SOS Accessoire has 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.”
The EUR 10m raised in this financing round will enable SOS Accessoire to expand its marketing and digital presence, to further optimize its logistics and to foster its growth in Europe targeting Germany, Italy and Spain.
You can read the full Press release in French here.