YPOG advises everphone on USD 200 million financing round
Berlin — Equity and debt financing achieved by everphone amounts to $200 million. Growth investor Cadence Growth Capital led the equity financing as lead investor. In addition, existing investors Deutsche Telekom, AlleyCorp and signals Venture Capital again invested in the Berlin-based startup. The additional debt capital in the form of green loans under a warehouse financing structure comes from Deutsche Bank and The Phonenix Insurance Company. YPOG again advised smartphone-as-a-service provider everphone in this financing round.
While everphone relied on the advice of Hogan Lovells partner Dietmar Helms’ team for the debt financing structure, as in the past, YPOG provided comprehensive advice on the equity financing round as well as corporate law aspects of the debt financing. Following the successful completion of the financing round, Cadence Growth Capital is now everphone’s largest shareholder.
With the fresh capital, the company plans to further advance the circular economy in the field of mobile devices, which aims to fully or partially reuse raw materials to conserve finite resources such as rare earths and other components. In order to further expand market share, the new financial resources will be used, among other things, for activities to acquire new business customers. In addition, the company says the money will also go toward further internationalization, staff augmentation, product development and growth of its active device fleet, which already exceeds 100,000 devices.
everphone received comprehensive legal advice from a YPOG team co-led by partners Benjamin Ullrich (photo) and Matthias Kresser. The Berlin-based company had already relied on a team led by Benjamin Ullrich for the previous capital increase in mid-2020.
“We are pleased to continue to accompany the everphone team on its impressive journey, especially because everphone’s flexible rental model (“device-as-a-service”) has a particular impact on our approach to finite resources,” said 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 circular economy,” adds YPOG partner Matthias Kresser.
everphone is a one-stop solution for corporate smartphones. Since 2016, the startup has been offering an innovative concept for the procurement, management and integration of mobile devices such as smartphones and tablets in the corporate context. The “Phone as a Service” model gives employees a free choice of company phones, allows flexible upgrades and replacement of devices, and includes both DSGVO-compliant mobile device management (MDM) and a rapid replacement service in the event 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’ DaaS strategy in Germany. everphone was founded by former CHECK24 executive Jan Dzulko and employs over 170 people in Berlin. In addition to numerous startups and SMEs, everphone 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.
Consultant everphone: YPOG
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
YPOG is a specialist tax and commercial law firm, operating in the core areas of corporate, funds, litigation, tax, transactions, IP/IT and notarial services. The YPOG team advises a wide variety of clients. These include emerging technology companies and family-run medium-sized enterprises as well as corporations and private equity/venture capital funds. YPOG is one of the leading addresses for venture capital, private equity and fund structuring in Germany. The firm and its partners are nationally and internationally ranked by JUVE, Best Lawyers, Legal 500, Focus, and Chambers and Partners. Today, YPOG employs more than 70 experienced lawyers, tax advisors, tax specialists and a notary in three offices in Berlin, Hamburg and Cologne. www.ypog.law