Everphone raises $200 million

The start-up now has a new, largest shareholder. The existing investors have also stepped up.

Everphone has raised 200 million US dollars in a Series C financing round. Cadence Growth Capital led the round and is now the largest shareholder. The existing investors have also followed suit, including Deutsche Telekom, Signals Venture Capital and AlleyCorp, while Deutsche Bank and Phoenix Versicherung are providing Everphone with loans.

The start-up wants to use the money to expand its sustainable circular economy model. This involves refurbishing cell phones that have already been in use for two years. "My goal has always been for the circular economy to become widely accepted and we are well on the way to achieving this," says Everphone founder Jan Dzulko. Everphone also wants to use the money to expand in Europe and the USA, hire new staff, further develop its products and purchase more phones.

Jan Dzulko founded Everphone in Berlin in 2016. The start-up has a "phone as a service" model for corporate customers. Everphone buys phones for companies, sets them up and repairs them for a monthly rental fee. The company now has over 100,000 active devices.