Everphone receives $32 million

The start-up has expanded its Series C financing round. It plans to use the money to finance its growing core business.

Berlin-based startup Everphone has expanded its Series C funding round, raising an additional $32 million. Venture capitalist Cadence Growth Capital (CGC) is leading the round. "Our long-term support shows that we see great potential in Everphone," said Leonard Clemens, co-founder and managing partner of CGC. In December, the startup had last raised $200 million. With the additional money it has now raised, it intends to finance its growing core business and push ahead with internationalization.

Jan Dzulko founded Everphone in Berlin in 2016. The start-up offers a "phone as a service" model for corporate customers. Everphone purchases smartphones for companies, sets them up and takes care of repairs in exchange for a monthly rental fee. "Our mission is to enable companies to improve their daily operations and act in a more environmentally friendly way as part of the circular economy," Dzulko says.

In the past fiscal year, the startup generated sales of 19 million euros. This represented an increase of 170 percent compared to the 2020 fiscal year.