An international consortium of impact investors, led by new shareholders Invest-NL, the ABN AMRO Sustainable Impact Fund and existing shareholder Quadia with its Regenero Impact Fund, is investing €49 million in Fairphone, the Dutch sustainable smartphone company, in partnership with other existing shareholders DALHAP, DOEN Participaties and PDENH.
The investment will enable Fairphone to accelerate its growth and expand its footprint as it pursues its mission for a more sustainable electronics industry. In addition, the money will be used to pay off existing loans and partially exit current shareholders, including PYMWYMIC and over 1000 crowdfunders.
Fair recycling smartphone Fairphone
Eva Gouwens, CEO of Fairphone, comments, “Over the past few years, Fairphone has been able to evolve from a social movement to an impactful, mission-driven company. I would like to thank all the shareholders who have supported us over the years. With a growing base of investors joining our mission, we will continue to raise awareness for fairer electronics, drive the growth of our company, and thereby expand our impact.”
Greentech Smartphone Green Phone
Fairphone will use the growth capital to further strengthen its brand positioning. The funds will also be used to accelerate the integration of fair and recycled materials across Fairphone’s product portfolio. Measures include expanding mining value chain programs in Africa and South America and introducing fair wages in Asia.
In addition, Fairphone will invest in product development and improved customer service to ensure users can use their Fairphone for longer.
Fairphone founder Miquel Ballester Salvà live on stage at the Greentech.LIVE conference.
To the Greentech Index Fairphone.
