Mobile.club has merged with Next Mobiles in a transaction that reshapes the competitive landscape of the French device rental and refurbished smartphone market. The combined entity is supported by a € 31 million funding round led by Smart Lenders Asset Management, reinforcing its capital base to accelerate European expansion and build a broader technology rental platform. The merger creates what the group describes as the leader in tech rental in France, with a combined annual recurring revenue of € 30 million and more than 70,000 subscribers across France, Belgium and Luxembourg. The transaction reflects increasing maturity within the subscription-based device economy, where ownership models are gradually being replaced by access-driven consumption and lifecycle extension strategies.
From refurbished pioneer to platform group
Founded in 2018 by Damien Morin, mobile.club positioned itself early as a circular economy operator focused on renting refurbished premium smartphones, predominantly Apple iPhone models. Morin previously founded Save, which became France’s largest smartphone repair network, embedding repairability and refurbishment into the company’s DNA. Mobile.club built its proposition around flexible, no commitment subscriptions bundled with insurance against theft and breakage. The model targeted both cost sensitive consumers and environmentally conscious users seeking to avoid high upfront payments while extending device lifecycles. By prioritising refurbished inventory, the company embedded recommerce economics directly into recurring revenue structures.
In late 2024, mobile.club accelerated its B2B ambitions through the acquisition of Cleaq, a startup specialising in IT equipment rental for small and medium enterprises. Cleaq’s software platform enables fleet management of laptops and smartphones, positioning the combined group to serve corporate clients seeking asset light hardware procurement and improved carbon reporting.
Premium rental meets circular scale
Next Mobiles, launched in 2020 by industry veterans including Alain Zagury, Frederick Gian and Fadel Bennouna, pursued a complementary strategy. Rather than focusing initially on refurbished supply, the company built its reputation on renting brand new flagship devices. Its differentiation centred on a free annual upgrade mechanism. After 12 months, subscribers could exchange their smartphone for the newest generation model without price increases or additional fees. This approach targeted innovation driven consumers who seek access to the latest hardware without committing more than €1,200 upfront for premium smartphones.
Prior to the merger, Next Mobiles had scaled to more than 35,000 active subscribers across France, Belgium and Luxembourg. Its growth trajectory demonstrated strong appetite for subscription based access models among both consumer and professional segments.
European ambition and build up strategy
The combined group now integrates refurbished expertise, brand new flagship rental, and B2B fleet management under a unified structure. Beyond smartphones, management has signalled intentions to build foundations for a broader technology rental portfolio, extending into adjacent device categories. With € 30 million in annual recurring revenue already achieved, the group has set an ambition to exceed € 100 million in annual recurring revenue by 2030. Growth is expected to derive from continued organic expansion and additional build up operations. The €31 million capital injection provides financial capacity to pursue these objectives while reinforcing inventory financing and subscriber acquisition.
Circular impact and market implications
For the secondary mobile market, the merger signals deeper integration between recommerce, rental, and enterprise IT asset management. By aligning refurbished supply chains with subscription demand, the group can optimise device rotation cycles, increase residual value capture, and reduce electronic waste volumes. The transaction underscores how rental models are evolving from niche consumer propositions into structured, capital backed platforms with measurable recurring revenue and cross border scale. As European regulators and corporate buyers intensify focus on lifecycle extension and carbon reduction, Device as a Service structures are positioned to capture greater share of hardware spending. Mobile.club and Next Mobiles are not only consolidating market share but are advancing a structural shift in how smartphones and connected devices circulate through the economy. The French market now hosts a scaled operator capable of influencing pricing, refurbishment flows and enterprise procurement models across the region.
Market
Trade-in
Repair
Refurbishing
