The B2B cell phone data deletion and reselling service company reANGEL has received a new investment
September 16, 2013
With High-Tech Gründerfonds (HTGF) reANGEL (Recycling Angel GmbH) has been able to find a further investor to finance the expansion of its data deletion and resale service, reANGEL. Especially the successful acquisition of large corporates and the strong growth prospects was decisive for the investment decision.
reANGEL offers corporates a full service solution for unused cell phones. “Most corporates do not have a solution for their obsolete cell phones and usually the devices collect dust in a box in the office. This leads to a loss of value, wasting of natural resources and the danger that existing data on the cell phones falls into the wrong hands” explains Philip Nissen, founder of reANGEL.
reANGEL is specialized on the requirements of corporates especially the handling of confidential information on the devices. Therefore the service includes the insured take back of devices, the guaranteed data deletion and a fair and transparent purchase price at top market prices.
In addition, reANGEL supports the environment by reusing unused resources thus reducing the need for new resources. Not reused devices are professionally recycled.
reANGEL has been able to win many large corporates in Germany of divers industries among others like COMMERZBANK, HANNOVER 96 and KROMBACHER.
„reANGEL focuses on a niche in the recommerce market. The fact that reANGEL was able to build-up such an attractive client base in such a short time, was instrumental in our decision to invest into reANGEL.” remarks Michael Strzyz, Investment Manager of High-Tech Gründerfonds.
“The added value that HTGF brings in the form of know-how in analysis, structuring, business expansion and help in finding new investors convinced us to choose them. The new capital will be used to expand the service to other European countries that also have a strong interest in the reANGEL services.”, says Philip Nissen.
Recycling Angel GmbH headquartered in Hamburg offers, under the name reANGEL, corporates of all industries the buy back of their obsolete cell phones, laptops and desktops to current market prices. The purchase price represents the remaining value of the used phones based on a transparent and fair compensation. Especially the high quality and certified data deletion is a key requirement of corporates for them to entrust their devices with confidential information to reANGEL. The received devices are sold to new buyers in Europe and emerging markets. In addition, corporates receive a CO2 sustainability report that documents their support in helping the environment. Presently, the reANGEL services are offered in 5 European countries.
High-Tech Gruenderfonds invests in young, high potential high-tech start-ups. The seed financing provided is designed to enable start-ups to take an idea through prototyping and to market launch. Typically, High-Tech Gruenderfonds invests EUR 500,000 in the seed stage, with the potential for up to a total of EUR 2 million per portfolio company in follow-on financing. Investors in this public/private partnership include the Federal Ministry of Economics and Technology, the KfW Banking Group, as well as strategic corporate investors including ALTANA, BASF, B. Braun, Robert Bosch, CEWE Color, Daimler, Deutsche Post DHL, Deutsche Telekom, Evonik, Lanxess, media + more venture Beteiligungs GmbH & Co. KG, METRO, Qiagen, RWE Innogy, SAP, Tengelmann and Carl Zeiss. High-Tech Gruenderfonds has about EUR 573.5 million under management in two funds (EUR 272 million HTGF I, EUR 301.5 million HTGF II).