Harbert backs B2X with €6m

B2X is using the funding for global expansion of its Smart Service Platform for mobile device customer care. A major focus will be the insurance industry and Chinese smartphone brands. The business stated it has grown revenues at an annual 59% rate since 2011.

The GP invested via its €122m Harbert European Growth Capital Fund I (HEGCF). Harbert operates across a number of investment strategies, including growth equity and mezzanine.

Previous funding
In October 2014, Earlybird Venture Capital led a $15m series-B funding round for B2X, enabling the company to acquire a majority stake in India-based The Service Solutions.

Earlybird joined existing investor Grazia Equity in July 2010 in a round of funding for B2X. Financial details of the round were not disclosed. Grazia had contributed an undisclosed amount of expansion funding in November 2009.

Company
Founded in 2006 and based in Munich, B2X provides customer care services for mobile devices and other consumer electronics to manufacturers, insurance providers, carriers and retailers. It works for manufacturers such as Apple, Motorola and Xiaomi, managing after-sales and warranty businesses in 50 countries through a network of 100 repair partners.

People
Harbert Management Corporation – David Bateman (senior managing director). 
B2X – Rainer Koppitz (CEO).

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• Topics
• Expansion
• DACH
• Support services
• Germany