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Fintech startup Flexvelop receives EUR 3 million

Thursday 23 February 2023 15:18 CET | News

Germany-based fintech startup Flexvelop has announced receiving EUR 3 million from institutional investors Seventure Partners, 4Tree Capital, and Innovationsstarter Fonds Hamburg, as well as four business angels. 

 

With Flexvelop, business customers can flexibly rent individual small devices as well as larger collective orders in seconds. In this way, young, small, and medium-sized companies in particular can work directly with professional equipment and later decide flexibly whether and when is the best time to buy or return it.

According to a Seventure Partners representative, they see huge potential in B2B equipment leasing and aim to support its next growth steps. The investment serves to expand into other online shops and partner dealers in order to integrate the new form of B2B equipment leasing directly as a clickable payment solution.


How does the offer work?

Flexvelop takes on the bill and thus the investment risk, meaning that the company combines leasing with consistently flexible rentals and the speed of an online order. If a customer decides to return a device, the return is processed by a specialised service provider. Flexvelop is already represented by retailers for catering equipment, office IT, and tools.

Fintech startup Flexvelop receives EUR 3 million

At partner dealers such as Notebooksbilliger.de, WMF, or the consumer electronics store EXPERT, "Flexen" is already a recommended payment option for tradespeople. In the future, the fully automated payment solution is to be increasingly integrated into the check-out process of online shops in addition to the retail space.

Previous investments

After in-house IT development and a market entry in 2020, the fintech has now been able to convince several institutional investors to invest in the Flexvelop team. With the fresh capital, the team is to be doubled from currently 10 to around 20 people in 2023 and the in-house technical solution is to be further developed. According to a Flexvelop representative, the fintech can now open up further credit lines that serve the high demand and pursue their growth targets.

Which investors formed this round? 

Seventure Partners is a long-term equity investor that supports innovative companies with positive impacts on people, society, sustainability, and the planet. They are a subsidiary of asset management firm Natixis Investment Managers. 4Tree Capital invests in direct and indirect assets for clients and partners as part of a multi-family office. In the case of direct company investments, 4Tree assumes the role of a strategic investor and promotes company development in cooperation with management. The Innovationsstarter Fonds Hamburg invests venture capital in innovative companies in order to contribute to the development of promising companies.

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Keywords: financing , investment, B2B payments, payment processing, mobile payments
Categories: Banking & Fintech
Companies: Flexvelop
Countries: Germany
This article is part of category

Banking & Fintech

Flexvelop

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