News December 13, 2021

Deutsche Bank helps Berlin start-up make the leap to the USA

Everphone wants to expand with mobile phone and tablet rentals

Why buy smartphones and tablets when companies can rent them cheaply? The Berlin-based start-up Everphone wants to expand from Europe into the USA with a subscription model. The Berlin-based company currently rents around 40,000 devices to companies such as Ernst & Young, Bank of Scotland, Henkel and the delivery service Gorillas - and the number of mobile end devices they are renting to corporates is rising.

The Berlin-based company not only procures the devices, but also integrates them at the customer's premises and takes care of the software. After about three years of use in a company, Everphone refurbishes the phones and tablets and resells them to end users. The average period of use thus increases from around three to more than five years.

"We need more companies like Everphone in Europe that combine sustainability and economic success with innovative ideas," says Robin Cresswell, who was instrumental in pushing for the financing A second phase of life for mobile phones and co means less electronic waste - and that's a really good thing."

In turn, Deutsche Bank is a crucial partner for Everphone in its financing: "It is not easy to find a bank that understands start-ups, has the necessary international experience and at the same time knows how to finance sustainable business models," the company praises the bank on LinkedIn.

In the current financing round, Everphone has raised around 120 million euros in debt capital, most of which comes from Deutsche Bank

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