B2X, a customer care technology firm, has raised a further €6.25 million in funding from Cipio Partners. It previously raised €4.25 million last year from Seligman Private Equity Select. This brings the total round to €10.5 million.
Munich-based B2X provides end-to-end customer care solutions for electronics. According to the company, it has had revenues of €100 million over the last five years at an annual growth rate of 25%.
“We have an expansive customer portfolio and are seeking additional business opportunities across the world”, said Rainer Koppitz, CEO of B2X. “After this new round of funding, we will further strengthen our operations and technology platform to support our clients’ expansion into new international markets.”
It is now looking to further internationalise its business. It will be focusing further on the consumer and out-of-warranty service sector, largely through its partnerships with Google, Lenovo, and Samsung, as well as the burgeoning space for smart home devices. It plans to use this new round of funding to expand its operational and IT teams.
“We have recently rolled out five very large customer projects in Brazil, Europe, India, Vietnam and the United States with major brands,” added Sven Merkel, CFO. “Cash flow is positive and the fresh capital from Cipio Partners gives us the opportunity to expand with our clients even more quickly, which, in turn, will have a positive effect on our earnings.”