Fairphone, an Amsterdam, Netherlands-based sustainable smartphone company, raised €49M in funding.
The round was led by Invest-NL, Regenero Impact Fund, DALHAP, DOEN Participaties and PDENH.
The company intends to use the funds to strengthen brand positioning and create further awareness around fairness and sustainability in the electronics industry, to accelerate integration of fair and recycled materials in its full product portfolio, for example by extending its mining value chain programs in Africa & South America, and fair wage programs in Asia. Furthermore, it is used for the settlement of existing loans and partial exit of current shareholders, including PYMWYMIC and over 1000 crowdfunders.
Led by CEO Eva Gouwens, Fairphone designs, produces and sells smartphones to uncover the supply chain behind its products. The company gains influence in the industry to motivate suppliers and manufacturers to continue to invest in improving working conditions, worker satisfaction and sustainable business practices, as well as providing better opportunities for the communities linked to its supply chain.
Commenting on the news, Eva Gouwens said: “Over the past years, Fairphone has been able to transform from a social movement to an impactful mission-driven company. I would like to thank all shareholders who have supported us over the years. With a growing base of mission-aligned investors, we will further raise awareness for fairer electronics and accelerate the growth of our company and impact.”
FinSMEs
31/01/2023