SOS Accessoire Raises $12M for DIY Appliance Repair

SOS Accessoire Secures €10M in Funding to Revolutionize Home Appliance Repair

SOS Accessoire, a French company dedicated to assisting individuals with the diagnosis and repair of household appliances, has successfully completed a funding round, raising €10 million (approximately $12 million). The investment was spearheaded by ETF Partners and Quadia.

Additional participation in this funding round came from Starquest and Seed for Good, demonstrating strong investor confidence in the company’s mission.

The Rise of the Home Repair Market

A burgeoning market for home appliance repair is currently being fueled by innovative startups. These companies empower consumers to economize, minimize waste, and contribute to environmental sustainability.

Currently, approximately 80% of broken appliances are discarded rather than repaired, resulting in a significant environmental burden. The European Union's spare parts market alone is valued at €4.1 billion, presenting a substantial opportunity.

Challenges in Appliance Repair

Despite the potential for repair, obtaining necessary spare parts can be difficult. The supply chain is fragmented, involving numerous vendors. Furthermore, repair instructions are often geared towards professional technicians, leaving amateur repairers at a disadvantage.

SOS Accessoire’s Solution

SOS Accessoire offers a comprehensive solution, providing tools for diagnosing appliance malfunctions, sourcing spare parts, and accessing instructional video tutorials to guide the repair process.

The company estimates that it facilitated the repair of 500,000 appliances in 2020. This equates to a reduction of 20,000 tonnes of CO2 emissions – comparable to the annual carbon footprint of 4,375 people in France.

Founder’s Vision

Olivier de Montlivault, founder of SOS Accessoire, stated: “A significant opportunity exists to curtail household appliance waste and challenge the prevailing notion that broken items must invariably be replaced.”

Competitive Landscape

SOS Accessoire’s primary competitors include other digitally-focused companies serving consumers, such as Spareka and Adepem. However, the company highlights its advantages in scale, spare parts availability, and the breadth of its catalog and database.

Investor Perspective

Remy de Tonnac, a partner at ETF Partners, commented: “We are witnessing a growing trend of environmentally conscious consumers who prefer to maintain their appliances rather than discard them. SOS Accessoire is uniquely positioned to fulfill this demand, possessing a knowledgeable management team and a business model capable of dominating this niche within the e-commerce landscape and ultimately disrupting the wider market.”

The company’s approach is poised to reshape consumer behavior and promote a more sustainable approach to appliance ownership.