Hamburg-based Flexvelop, a FinTech startup targeted on the shopping for and leasing of kit, has secured €44 million to determine additional main partnerships with retailers and producers.
The funding contains credit score traces totalling €40 million from varied refinancing companions and an extra €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 improve.”
Based in 2018 with the imaginative and prescient of providing firms an revolutionary different to purchasing and leasing gear. The corporate‘s new sort of financing known as ‘Flexing’ combines the benefits of renting, leasing and loans in a single resolution.
The all-digital processing allows SMEs to make use of units resembling laptops, espresso machines or medical gear “instantly“, with out tying up long-term capital. SMEs can purchase or return the units at any time, whereas Flexvelop bears the funding danger.
Via 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 gear.
What as soon as started with ‘flexing‘ units for freelancers now additionally contains large-scale initiatives with as much as 1k units per firm in varied sectors.
IVF‘s Senior Funding Supervisor, Stefanie Höhn, is assured that “Flexvelop provides an urgently wanted financing different for small and medium-sized firms,” 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 assist the workforce with the IVF on the great path of their improvement.”
“Flexvelop has confirmed that its revolutionary rental mannequin for firms works all through Germany – and the potential is way from tapped. As a dedicated present investor, we’re eager to assist the following section of development with our financing,” provides Julien Cazor, Enterprise Associate at Seventure Companions.
Flexvelop intends to make use of the contemporary capital to determine 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 improve, Flexvelop is presenting a brand new company design. The brand new model identification – with a modernised brand, new web site and clear design traces – 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 resolution for firms,” Stockfisch concludes.
