Cipio backs €10.5m round for B2X

Seligman Private Equity invested €4.25m in the first tranche of the series-C funding round in July 2017.

B2X has achieved an annual growth rate of 25% over the last five years, resulting in revenues of €100m.

The fresh capital will be used to strengthen the technology and operations platform and support clients' expansion into new markets.

Cipio joined existing investors including Earlybird Venture Capital, Barkawi Group, Grazia Equity and Seligman.

Previous funding
Grazia first invested in B2X in November 2009 and took part in another round alongside Earlybird in July 2010.

Earlybird led a $15m series-B for the company in October 2014, at which point it employed 400 people. This number had increased to 1,000 by the time Seligman invested €4.25m in the series-C round in July 2017.

Company
B2X provides after-sales services 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 1,100 people.

People
Cipio Partners – Hans-Dieter Koch (managing partner).
B2X Care Solutions – Sven Merkel (CFO).

• Tweet  
• Facebook  
• LinkedIn  
• Google plus  
• Send to  

• Topics
• Expansion
• DACH
• Support services
• Technology
• Germany
• Venture