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Berlin’s Everphone raises $200M in debt and Series C equity – FiratNews

Berlin’s Everphone raises $200M in debt and Series C equity – TechCrunch

Berlin-based smartphone-as-a-service supplier Everphone has topped up with $65 million in a Sequence C fairness increase along with taking $135 million in debt financing — for a complete increase of $200 million.

The newest tranche of funding is led by German non-public fairness investor Cadence Progress Capital (CGC), which is now Everphone’s greatest shareholder.

Deutsche Telekom, AlleyCorp and alerts Enterprise Capital additionally participated as returning traders.

The brand new financing follows Everphone’s $40 million Sequence B, closed in summer time 2020, because the 2016-founded startup reported an uplift in curiosity pushed by the COVID-19-triggered distant working increase.

Everphone’s enterprise takes care of the provision, assist, restore/substitute and recycling of cell units (smartphones and tablets) for enterprises clients — billed beneath a per-user month-to-month subscription.

It’s a tool rental mannequin the startup touts as being extra sustainable than various routes for provisioning cell units (similar to shopping for units outright) — arguing it saves environmental assets by baking in circularity from the beginning.

In addition to taking good care of its clients’ {hardware} procurement wants — and the refurbishment/recycling/reuse of used cell units — Everphone bakes in MDM (cell machine administration), touting decreased IT assist prices as one other perk of paying it to take the machine pressure.

Over the previous 12 months it’s been increasing internationally — and says the brand new capital will go towards additional internationalization in Europe and the U.S. because it vies as much as win extra clients.

Sequence C funds may even go on rising its headcount, spending on product growth and rising its energetic machine fleet — which it says now numbers over 100,000 units.

Commenting in a press release, Leonard Clemens, co-founder and managing companion at CGC, added: “We’ve been accompanying Everphone for years and see nice potential for a profitable positioning as a companion for purchasers from the enterprise and SME sectors in Germany, Europe, and the USA. Everphone‘s one-stop answer suits completely into our time of change enabling versatile working hours and, currently, hybrid location fashions. This makes Everphone an enabler of New Work and, on the similar time, implements sustainability with a big contribution to the Round Financial system.”

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