Berlin, December 6, 2021 – YPOG once again advised smartphone-as-a-service provider everphone on a financing round. The total volume of the equity and debt financing amounts to $200 million. Growth investor Cadence Growth Capital was the lead investor for the equity financing. In addition, existing investors Deutsche Telekom, AlleyCorp and signals Venture Capital again participated in the Berlin-based startup. The additional debt capital was provided by Deutsche Bank and The Phonenix Insurance Company in the form of green loans as part of a warehouse financing structure. While again this time everphone relied on the advice of the team of Hogan Lovells partner Dietmar Helms for the debt financing structure, YPOG provided comprehensive advice on the equity financing round as well as on corporate law aspects of the debt financing. Following the successful completion of the financing round, Cadence Growth Capital is now everphone's largest shareholder.
The company says that it plans to use the fresh capital to further advance the circular economy in the field of mobile devices, which aims at the full or partial reuse of raw materials in order to preserve finite resources such as rare earths and other components. In order to further expand market share, the new financial resources will be used to expand activities in acquiring new business customers, amongst others. Additionally, the money will go towards further internationalization, increasing personnel, product development, and the growth of the active device fleet, which already numbers over 100,000 devices.
everphone received comprehensive legal advice from a YPOG team co-led by partners Benjamin Ullrich and Matthias Kresser. The Berlin-based company had already relied on a team led by Benjamin Ullrich for its previous capital increase in mid-2020.
"We are pleased to continue accompanying the everphone team on its impressive journey, especially because everphone's innovative concept ("device-as-a-service") has a particular impact on how we deal with finite raw materials", says YPOG partner Benjamin Ullrich. "We are already excited about the next steps and hope that everphone will also serve as a role model for other startups in the important field of the circular economy", adds YPOG partner Matthias Kresser
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Advisors to everphone:
Dr. Benjamin Ullrich (Co-Lead/Transactions/Corporate), Partner
Matthias Kresser (Co-Lead/Transactions/Venture Debt), Associated Partner
Emma Peters (Transactions/Corporate), Senior Associate
Christiane Schnitzler (Transactions/Corporate), Associate
Bilal Tirsi (Transactions/Venture Debt), Associate
About everphone
everphone is a one-stop solution for company smartphones. Since 2016, the start-up has been offering an innovative concept for the procurement, management and integration of mobile devices such as smartphones and tablets in a corporate context. The phone- as-a-service model gives employees a free choice of company phones, allows flexible upgrades and changes of devices, and includes both a DSGVO-compliant Mobile Device Management (MDM), and a fast replacement service in case of defects. The portfolio includes devices from Apple, Samsung, Nokia, Google, and Fairphone. Since December 2020, everphone has been an official B2B partner of Samsung Electronics' device-as-a-service strategy in Germany. everphone was founded by former CHECK24 managing board member Jan Dzulko and employs over 170 people in Berlin. In addition to numerous start-ups and SMEs, everphone's customers also include global players such as Henkel, Ernst & Young and TIER Mobility. Investors include Dr. Henrich Blase (founder of CHECK24), Kevin Ryan (founder of MongoDB/BusinessInsider), Cadence Growth Capital, Deutsche Telekom and signals Venture Capital.
YPOG is a law firm specialized in tax and business law, active in the core fields of Funds, Tax, Banking + Finance, and Transactions. The team at YPOG represents a broad client base, which ranges from emerging technology companies and family-run SMEs to large corporations, as well as private equity, and venture capital funds. YPOG is one of the leading advisors for venture capital, private equity, and fund structuring in Germany. The firm and its partners have been recognized nationally and internationally by JUVE, Best Lawyers, Legal 500, Focus, Chambers and Partners as well as Leaders League. Today, YPOG has more than 150 experienced attorneys, tax advisors and tax specialists and a notary, in four offices, located in Berlin, Hamburg, Cologne, and Munich.
