Fairphone collects 2.5 million euros from users

Aug

14

2018

The Dutch smartphonemaker Fairphone raised a total of 2.5 million euros through an investment campaign via the oneplanetcrowd.nl website. The company wants to use the money for the development of future models.

Fairphone reports through a spokesman that with this investment it is able to scale up its activities and further improve the supply chain. At the start of the campaign, the Dutch Fairphone set itself the goal of raising a total of between 1 and 2.5 million.

The smartphone maker asked investors to become a shareholder of the company through a ‘ convertible loan ‘; this allows you to buy shares in the future during a new investment round. A person between 250 and 500 euros could be invested per person.

Earlier it appeared that the money that Fairphone collects with this campaign is not sufficient for the business activities in the longer term. There are now enough financial resources for a year; the company wants to raise more money through a bank loan.

The Fairphone 2 is the latest phone from the smartphone maker and dates back to 2015. The relatively slow pace of delivering a new phone is a conscious choice. Many of today’s smartphones are difficult to repair, which means that the lifespan is limited. Fairphone, on the other hand, wants to make more durable phones that are modular and therefore easier to repair and upgrade.

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