DLA Piper advises The Phoenix on financing round for everphone

DLA Piper has advised The Phoenix Insurance Company on a USD200 million financing round for Berlin-based phone-as-a-service company everphone. The financing consisted of debt and equity elements, including a borrowing base facility provided together with Deutsche Bank.

The Phoenix is a leader in Israeli multi-line insurance, asset management, and financial services. The group serves a significant portion of Israeli households with a broad set of activities and solutions across businesses and client segments and is managing over USD100 billion in assets.

Everphone is a high-growth technology company based in Berlin which has specialised in renting out mobile devices such as smartphones, tablets and laptops to provide firms with their individual fleets of mobile devices.

Partner Dr Wolfram Distler commented: ”This exciting deal shows again our strength in advising complex financings for high-growth companies, in particular in the IT and telecommunications sectors”.

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).