Berlin based Device-as-a-Service provider Everphone has completed an early restructuring of its device inventory financing with a €15 million corporate loan from Commerzbank and KfW. The facility marks the first time the company has financed its device stock through corporate creditworthiness rather than individual device pools. The new arrangement also carries an interest margin that is 20 basis points lower than the previous structure.
A Structural Shift in Device Financing
Everphone previously relied on asset-based financing, using individual devices or device pools as collateral for inventory funding. The new corporate loan instead depends on the overall credit profile of the company, which reflects growing lender confidence in its business model. This shift matters because Everphone must purchase smartphones, laptops, and tablets before recovering acquisition costs through customer lease payments.
Funding Purpose and Operational Scale
The capital will be used to acquire new smartphones, laptops, tablets, and other workplace devices that Everphone rents to companies under long-term contracts. Founded in 2016, the company is headquartered in Berlin and operates offices in Munich and Miami with around 250 employees. Led by founder and chief executive Jan Dzulko, it manages more than 400,000 devices for over 1,000 organizations.
Partner Support and Financial Terms
Commerzbank and KfW, Germany's state-owned development bank, are jointly providing the €15 million facility, with KfW participating through its Venture Tech Growth Financing program. Commerzbank has worked with Everphone for ten years and acts as the company's principal bank. KfW has now completed its second financing engagement with Everphone following an earlier transaction in 2023 and 2024.
Path Toward Profitability
The lower interest margin reduces financing costs for each rented device, which directly improves unit economics in the Device-as-a-Service model. Everphone stated that the improved conditions helped it achieve a positive earnings before tax result for the first time in August 2026, although no figures were disclosed. Cheaper financing is expected to enable larger purchase volumes and lower per unit procurement costs, including for replacement devices.
Broader Financing Context
Everphone's recent financing history includes a January 2026 package in which Citi remained a provider through lease and residual value securitization, NORD/LB joined as a senior lender, and Värde supplied €45 million of mezzanine financing. In January 2024, the company announced a €270 million financing led by Citigroup, with KfW and The Phoenix Insurance Company among the providers. The new corporate loan therefore continues a multi-year effort to diversify funding sources and improve borrowing conditions.
Strategic Implications for Growth
Everphone's capital needs rise as customer demand grows because devices must be purchased before rental income is collected. The new financing arrangement is designed to support faster procurement cycles and larger purchasing volumes, which can reduce the unit cost of hardware. More predictable access to debt funding can also help the company scale its Device-as-a-Service portfolio without relying solely on additional equity.
The €15 million corporate loan represents a meaningful milestone for Everphone's financing strategy and unit economics. By shifting from asset based funding to corporate credit, the company gains more flexible access to capital at a lower cost. The key test will be whether the positive earnings before tax achieved in August 2026 can be sustained over a longer period.