Seligman invests €4.25m in B2X

The company expects a further financing round in the eight-digit range to be announced in the near future.

The new funding will be used to complete new customer projects more quickly, according to a statement.

Previous funding
In November 2009, Grazia Equity invested an undisclosed sum for a minority stake in B2X. Grazia was joined by Earlybird Venture Capital in July 2010 to provide another funding round for the company.

Earlybird then led a $15m series-B funding round for B2X in October 2014, enabling the company to acquire a majority stake in India-based The Service Solutions (TSS).

Company
B2X Care Solutions provides after-sales service for the consumer electronics, telecoms and IT industries. It works for manufacturers and chains, managing after-sales and warranty businesses in 140 countries through a network of more than 500 repair partners. The Munich-based company was founded in 2007. It reported revenues of €100m in 2016/17 and predicted this will grow to €140m in 2017/18. It employs more than 1,000 people.

People
Seligman Private Equity Select – David Seligman (founder).
B2X – Rainer Koppitz (CEO).

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