Everphone, the Berlin-based startup specialising in lending and refurbishing mobile phones for businesses, has secured €270M in its Series D round of funding. The company has gained support from new financing providers such as Citigroup, Phoenix Insurance, and KfW.
The round also saw participation from first-time investor Capnor, a vehicle for Belgium’s De Clercq family, as well as existing investors such as Cadence Growth Capital, Calista, signal ventures, Alleycorp, and Everphone’s founder, Jan Dzulko.
Sebastian Walf, Head of EMEA Asset Backed Securities says, “Citi offers a flexible ABS loan that enables Everphone to finance both lease payments and residual values of handsets. The securitisation financing goes hand in hand with an inventory loan to provide a seamless financing solution for Everphone.”
“With this customised financing solution, we are happy to offer Everphone the ability to unlock more of its growth potential. Citi’s global reach as well as its broad experience with fast-scaling digital companies form an excellent basis to tackle Everphone’s growth challenges, especially internationally, ahead,” explains Raphael Doerling, Head of Citi Commercial Bank in Germany.
A Device-as-a-Service platform
Everphone was founded by former CHECK24 board member Jan Dzulko after a frustrating experience with smartphone insurance.
Faced with a cracked screen, he navigated through a lengthy and bureaucratic process that took three weeks for a resolution. This inspired him to create a faster and more customer-friendly solution, giving birth to Everphone.
Everphone is a Device-as-a-Service provider, handling everything from sourcing to security for company smartphones and tablets.
Founded in 2016, the Berlin-based company manages over 350,000 devices for 1,000+ clients, saving IT departments time and offering a range of device choices. Employing about 300 people, Everphone operates in Berlin, Munich, and Miami, Florida.
Capital utilisation
In 2023, Everphone claims to have witnessed substantial growth, reaching over €75M in revenue and doubling its EBITDA to €30M. The latest capital infusion positions Everphone to increase revenue, pursue international expansion, and achieve profitability.
Everphone is investing capital to simplify end device operations for major clients, expanding its platform by up to 1 million devices internationally in Europe and the US.
The focus includes reaching new commercial user groups, and enhancing API capabilities for Business Intelligence and ESG data, with over 50 per cent of devices already managed through Everphone API.
In sustainability, the platform helps large companies meet ESG reporting requirements for sustainable IT strategies. Additionally, Everphone’s cybersecurity ensures the highest standard of data security, addressing a key challenge for IT executives.
Jan Dzulko, founder and CEO of Everphone says, “I am pleased that despite global economic challenges, we have continued to grow, proving that we have created a resilient business model. We are focused on proactive growth, and our success is reflected in the satisfaction of our customers and employees.”
“Our next goal is to reach the €100M revenue mark. Additionally, the influx of renowned investors prepares us for the next step towards internationalisation in Europe and the US.”
“I am so confident in our team, service, and especially future growth that I have personally invested in this round of financing as a founder,” adds Dzulko.
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