NIBC is pleased to announce the successful closing of a EUR 20m structured finance facility for everphone GmbHNews Release -
Everphone GmbH is a German B2B “Phone-as-a-service” provider offering a one-stop-solution for renting, managing, ordering, repairing, upgrading, and terminating mobile devices (e.g. smartphones and tablets) for corporates. Clients’ employees are enabled to organize the services from ordering to terminating by themselves through a proprietary mobile device management tool which centralizes tasks of IT, accounting, and the purchasing department in return of a monthly rental fee. Since the launch of their product offering in 2017, everphone has become a rapidly growing company servicing a remarkable number of rental devices to a series of international Tier 1 clients (a.o. EY, Boston Consulting Group and Hyundai) as well as to the German SME market. The company‘s growth was further boosted by its recently closed Series B funding round led by venture capital arms of Deutsche Telekom and Signal Iduna.
NIBC has provided a Structured Senior Facility based on everphone’s future rental income while physical mobile communication devices are secured in a Special Purpose Vehicle (“SPV”). This structured financing solution allows everphone to realise its current pipeline and enables future expansion opportunities. With this hybrid asset financing structure NIBC is evidencing its innovative and entrepreneurial spirit and marks yet another important milestone for NIBC’s pioneer role in refinancing of the fast growing asset subscription market.