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YPOG advises everphone on USD 200 million financing round

Photo: Benja­min Ullrich, Part­ner at YPOG in Berlin
8. Decem­ber 2021

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.

About ever­phone

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

About YPOG

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

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