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

The newest tranche of funding is led by German personal fairness investor Cadence Growth Capital (CGC), which is now Everphone’s largest shareholder.

Deutsche Telekom, AlleyCorp and indicators Venture Capital additionally participated as returning buyers.

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

Everphone’s enterprise takes care of the provision, help, restore/alternative and recycling of cell gadgets (smartphones and tablets) for enterprises clients — billed below 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 gadgets (resembling shopping for gadgets outright) — arguing it saves environmental assets by baking in circularity from the beginning.

As nicely as taking good care of its clients’ {hardware} procurement wants — and the refurbishment/recycling/reuse of used cell gadgets — Everphone bakes in MDM (cell system administration), touting diminished IT help prices as one other perk of paying it to take the system pressure.

Over the previous yr 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.

Series C funds may even go on rising its headcount, spending on product growth and rising its lively system fleet — which it says now numbers over 100,000 gadgets.

Commenting in an announcement, Leonard Clemens, co-founder and managing companion at CGC, added: “We have been accompanying Everphone for years and see great potential for a successful positioning as a partner for customers from the enterprise and SME sectors in Germany, Europe, and the USA. Everphone‘s one-stop solution fits perfectly into our time of change enabling flexible working hours and, lately, hybrid location models. This makes Everphone an enabler of New Work and, at the same time, implements sustainability with a significant contribution to the Circular Economy.”


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