Fairphone Receives $53 Million Investment

Founded in 2010, the Netherlands-based smartphone manufacturer Fairphone came to the agenda with the new investment it received. The company announced that it received an investment of 53 million dollars. The company stated that it will use the investment to develop sustainable technological products.

Fairphone's $53 million round was led by ABN AMRO Sustainable Impact Fund, Quadia's Regenero Impact Fund and Invest -NL. Former investors PDENH, DALHAP and DOEN Participaties also participated in the round. With the $53 million investment, the Netherlands-based smartphone maker has received more than $93 million in investments so far.

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Fairphone Working on New Smartphones and Headsets

Fairphone was founded in Amsterdam by Miguel Ballester and Bas Van Abel. In addition to smartphones, the company develops products such as wireless headphones and cases. The company appeared before the public with the latest Fairphone 4 model. The Netherlands-based company produces headphones and smartphones with recyclable and sustainable materials.

According to the information conveyed by the company officials, it was stated that some of the investment received will be used to close the company's debts. Fairphone CFO Noud Tillemans said that they sold a total of 120 products in 2022. The company sold 23 thousand products in 2018 and 88 thousand products in 2021.