The fintech startup Flexvelop began in 2018 with a leasing model for professional kitchen appliances and has continuously expanded its business model over the years. It has now received a total of 44 million euros for further growth, both as debt and equity capital.
IFB among the investors for Flexvelop
40 million euros originate from credit lines from various refinancing partners. The remaining 4 million euros come as equity from existing investors Seventure Partners and InnoVentureFonds (IVF). The IVF is a financing instrument of IFB Innovationsstarter GmbH for startups from Hamburg that have successfully completed the seed phase. Senior Investment Manager Stefanie Höhn comments: “Flexvelop offers an urgently needed financing alternative for small and medium-sized companies. Especially in times of economic uncertainty, flexible financing models are more in demand than ever - and we are convinced that Flexvelop will play a key role in this area.”
What once began with the leasing of devices for the self-employed now also includes large-scale projects with up to 1,000 devices per company in various sectors. Flexvelop intends to use the fresh capital to establish further major partnerships with dealers and manufacturers. The company would also like to use the new resources to finance larger order volumes in the future. Parallel to the capital increase, Flexvelop is presenting a new corporate design. The new brand identity with a modernized logo, new website and clear design lines is intended to underline the development from a startup to an established financing platform.
