Hamburg-based Flexvelop, a FinTech startup targeted on the shopping for and leasing of kit, has secured €44 million to ascertain additional main partnerships with retailers and producers.
The funding consists of credit score strains totalling €40 million from numerous refinancing companions and an additional €4 million euros in fairness from present companions InnoVentureFonds (IVF) and Seventure Companions.
“We thank all traders and banks for the belief they’ve positioned in us,” emphasises Dr Hans-Christian Stockfisch, CEO of Flexvelop. “The financing is of nice significance for the enlargement and additional improvement of the corporate. Moreover, Flexvelop has now lastly accomplished its transformation from startup to ‘grown-up’ because of the fairness enhance.”
Based in 2018 with the imaginative and prescient of providing corporations an revolutionary various to purchasing and leasing tools. The corporate‘s new sort of financing known as ‘Flexing’ combines the benefits of renting, leasing and loans in a single answer.
The all-digital processing allows SMEs to make use of gadgets reminiscent of laptops, espresso machines or medical tools “instantly“, with out tying up long-term capital. SMEs should buy or return the gadgets at any time, whereas Flexvelop bears the funding danger.
By the systematic use of digital processes and customised circumstances, Flexing claims to be one of many quickest, most cost-efficient and most versatile financing options for enterprise tools.
What as soon as started with ‘flexing‘ gadgets for freelancers now additionally consists of large-scale tasks with as much as 1k gadgets per firm in numerous sectors.
IVF‘s Senior Funding Supervisor, Stefanie Höhn, is assured that “Flexvelop gives an urgently wanted financing various for small and medium-sized corporations,” she says. “Versatile financing fashions are extra in demand than ever, particularly in occasions of financial uncertainty – and we’re satisfied that Flexvelop will play a key position on this space. Having already invested with the IFH II seed fund, we’re excited to proceed to help the group with the IVF on the nice path of their improvement.”
“Flexvelop has confirmed that its revolutionary rental mannequin for corporations works all through Germany – and the potential is much from tapped. As a dedicated present investor, we’re eager to help the following part of development with our financing,” provides Julien Cazor, Enterprise Associate at Seventure Companions.
Flexvelop intends to make use of the contemporary capital to ascertain additional main partnerships with retailers and producers. The corporate would additionally like to make use of the brand new funding to finance bigger volumes sooner or later.
Parallel to the capital enhance, Flexvelop is presenting a brand new company design. The brand new model id – with a modernised brand, new web site and clear design strains – underlines the event from an agile start-up to a longtime financing platform.
“Total, the rebranding is a logical step to emphasize our positioning because the main rental financing answer for corporations,” Stockfisch concludes.
