London-based fintech Ooodles, which offers AI-powered tech leasing solutions for SMEs, has raised €2.5 million to support its first international expansion into Ireland. The funding round, led by āltitude VC with participation from existing investors and UK family office Traditum, will allow Ooodles to enhance its proprietary Ooodles OS platform and extend its flexible IT leasing model to over 309,000 SMEs in Ireland.
Founded in 2020 by Leonardo Poggiali and Kannan Reghu, who previously worked at rental platform Grover, Ooodles has introduced a unique approach to IT leasing. Its platform provides SMEs with a customisable, “Pay-As-You-Go” leasing model, combining the immediacy of purchasing with the flexibility of leasing. SMEs can adjust lease terms without penalties, access instant device upgrades, and benefit from reduced upfront costs. In the UK, Ooodles has seen strong traction with over 200 clients, achieving a 96% retention rate.
Leonardo Poggiali, CEO and Co-founder of Ooodles said: “Whether it’s agencies needing high-performance laptops without upfront costs, or fast-growing startups looking to quickly equip their teams with the best devices, every time I meet new clients, there’s a moment when everything clicks; a lightbulb moment where they realise they no longer have to put up with restrictive leasing and can finally have the freedom and flexibility Ooodles provides.”
The platform not only addresses cost efficiency but also supports sustainability goals. By managing the lifecycle of each device, from setup to end-of-life recycling, Ooodles aims to reduce e-waste while offering SMEs a streamlined solution. The Ooodles OS platform, which incorporates AI, enables seamless inventory management, quick device upgrades, and transparency throughout the leasing process.
Kannan Reghu, CTO and Co-founder of Ooodles said: “We’re not just transforming IT procurement; we’re setting the standard for what flexible, sustainable, and scalable solutions should look like in the future. By owning the full stack, we give SMEs the agility and customisation they need to grow, and we’ve done this by stripping the entire process back to basics and rebuilding it from scratch to create something that truly stands out and is impactful – not just for our customers but for the planet. The traction we’ve seen in the UK validates this, and expansion to Ireland is just the beginning.”
This expansion into Ireland is part of Ooodles’ broader goal to triple its customer base across Europe by 2025, bringing its flexible leasing model to even more SMEs in diverse sectors, from digital agencies to high-end manufacturing firms.
Read the orginal article: https://www.eu-startups.com/2024/11/london-based-ooodles-secures-e2-5-million-to-expand-flexible-tech-leasing-for-irish-smes/
