YPOG and Hogan Lovells advised Everphone on the deal. Clifford Chance advised Deutsche Bank. CMS advised Cadence Growth Capital (CGC). DLA Piper advised The Phoenix Insurance Company.
The Smartphone-as-a-service provider everphone announced 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. 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 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.
The YPOG team included Dr. Benjamin Ullrich (Picture – 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.
The Clifford Chance team advising Deutsche Bank included partner Oliver Kronat with counsel Hannes Deusch and associate Antonia Walter (all Global Financial Markets/Structured Debt, Frankfurt); partner Mark Aschenbrenner with senior associate Samuel Frommelt (both Corporate/Private Equity, Munich); partner Stefan Sax, counsel Martin Jawansky with associate Charlotte Strohofer (all GFM/Restructuring, Frankfurt); partner Steffen Schellschmidt with senior associate Philip Rosak (GFM/Finance, Frankfurt); as well as partner Dominik Engl (Tax, Frankfurt).
Hogan Lovells Team for everphone GmbH included Dietmar Helms (Partner, Capital Markets), Bianca Engelmann (Partner, Banking), Dr. Antonia Wolf (Senior Associate, Banking), Maria Eugenia Fojo (Associate, Banking) (all Frankfurt); Dr. Florian Putzka (Senior Projects Associate, Capital Markets, Dubai).
The CMS team included Dr Tobias Schneider, Lead Partner, Stuttgart, Corporate/Private Equity; Dr Florian Plagemann, Counsel (Co-Lead), Frankfurt/Main, Corporate/Venture Capital; Dr Maximilian Eitelbuß, Associate, Stuttgart, Corporate/Private Equity; Dr Marc Seibold, Partner, Stuttgart; Anne Waßmuth, Senior Associate, Stuttgart, both Finance; Dr Ulrich Becker, Partner, Frankfurt/Main; Sinje Maier, Senior Associate, Frankfurt/Main, both Commercial, Dr Boris Alles, Counsel, Frankfurt/Main, Labor, Employment & Pensions.
The DLA Piper team was led by partner Dr Wolfram Distler (Finance) and also included partners Dr Mathias Schulze Steinen (Corporate), Mike Danielewsky , counsel Florian Bruder (both Finance & Restructuring) as well as senior associates Patrick Reuter (Finance) and Kristin Vogt-Schories (Corporate, all Frankfurt).
Involved fees earner: Mark Aschenbrenner – Clifford Chance; Hannes Deusch – Clifford Chance; Dominik Engl – Clifford Chance; Samuel Frommelt – Clifford Chance; Martin Jawansky – Clifford Chance; Oliver Kronat – Clifford Chance; Philip Rosak – Clifford Chance; Stefan Sax – Clifford Chance; Steffen Schellschmidt – Clifford Chance; Charlotte Strohofer – Clifford Chance; Antonia Walter – Clifford Chance; Boris Alles – CMS Hasche Sigle; Ulrich Becker – CMS Hasche Sigle; Maximilian Eitelbuß – CMS Hasche Sigle; Sinje Maier – CMS Hasche Sigle; Florian Plagemann – CMS Hasche Sigle; Tobias Schneider – CMS Hasche Sigle; Marc Seibold – CMS Hasche Sigle; Anne Waßmuth – CMS Hasche Sigle; Florian Bruder – DLA Piper; Mike Danielewsky – DLA Piper; Wolfram Distler – DLA Piper; Patrick Reuter – DLA Piper; Mathias Schulze Steinen – DLA Piper; Kristin Vogt – DLA Piper; Bianca Engelmann – Hogan Lovells; Maria Eugenia Fojo – Hogan Lovells; Dietmar Helms – Hogan Lovells; Florian Putzka – Hogan Lovells; Antonia Wolf – Hogan Lovells; Matthias Kresser – YPOG; Emma Peters – YPOG; Christiane Schnitzler – YPOG; Bilal Tirsi – YPOG; Benjamin Ullrich – YPOG;