Smartphone Leasing Startup Everphone Raises $200 Million
- Startup raised $65 million in equity and $135 million in debt
- Everphone buys thousands of smartphones and lends them out
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German startup Everphone GmbH, which lends and refurbishes phones for businesses, has been valued at $170 million in a funding round its founder hopes will put it on the route to an initial public offering.
The Berlin-based startup, founded in 2016, said it raised $65 million in equity and $135 million in debt in a Series C round led by Cadence Growth Capital, who has become the largest shareholder. Other backers included Phoenix Insurance Company, Deutsche Bank AG and Deutsche Telekom AG.