End2End Scores €10.5M

End2End completes a €10.5M round of equity financing, led by Draper Fisher Jurvetson ePlanet Ventures with participation from Deutsche Bank and HP

October 27, 2003

1 Min Read

AALBORG, Denmark -- End2End, Europe's leading provider of turnkey Managed Service Solutions for mobile data services, today announced the completion of a €10.5 million round of financing.

The financing round was led by Draper Fisher Jurvetson ePlanet Ventures, the global fund of the Silicon Valley-based firm Draper Fisher Jurvetson, with strong participation from the existing shareholders Deutsche Bank and HP.

"Raising this scale of financing in the current economic environment further demonstrates the strength of End2End's strategy and business model, and is a major sign of the continued strong support from our shareholders," said Soren Ravn, Chief Executive Officer, End2End. "This round of financing provides End2End with the financial resources and capabilities to focus and drive profitable growth, and makes us a strong player in the consolidation of the mobile data industry, which was recently demonstrated through End2End's acquisition of brodos messaging."

The financing, which is a combination of new equity and debt-to-equity conversion, makes End2End's business plan fully funded and leaves the company debt free, preparing End2End for expansion and growth.

"End2End has positioned itself as a strong mobile data services partner for mobile operators and service providers, as well as content providers and media companies," said Roderick Thomson, Co-Chairman and Managing Director, Draper Fisher Jurvetson ePlanet Ventures. "We are pleased with the progress End2End has made in the past 12 months and we see that the company is very well positioned for continued development and profitable growth."

End2End Holdings Ltd.

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