Because they don't have flashy investment rounds to show off, bootstrapped startups are less frequently mentioned in startup news than those supported by venture capital. Fleet is a perfect example of a business that has grown consistently without seeking outside funding.
Originally, the Paris-based startup provided a hardware rental service so businesses could use Fleet to lease machines and pay a monthly fee rather than shell out a substantial sum to buy several laptops for their staff. In addition to providing hardware-as-a-service, the company is now offering several software services, including device management, cybersecurity, and insurance.
Fleet, a firm that was bootstrapped, concentrated on streamlining its operations to stay as lean as possible and spend less money than It merits. For example, the company ships products straight to consumers, therefore it does not have a warehouse.
In a similar vein, the business collaborates with financial institutions, allowing them to manage credit lines directly, eliminating any risk associated with nonpayment. Financial institutions receive access to a hitherto unexplored market through Fleet in return. The business has grown over time to offer a wider range of goods, including furniture, phone booths, tablets, accessories, and smartphones.
But things haven't always gone as planned. The startup expanded concurrently with the years-long, substantial growth of the French tech sector. However, in line with other global ecosystems, French startups have encountered increasing challenges in obtaining local finance. Numerous businesses have been forced to make multiple rounds of layoffs to survive.
Alexandre Berriche, co-founder and CEO of Fleet, told TechCrunch, "The slowdown in startup fundraising and also hiring, which we were able to predict during the second half of 2022, was quite worrying at first." Ultimately, though, I believe it helped us since it inspired us to diversify our sources of income.
When the startup's clients cut staff to close the revenue shortfall, would they consider seeking funding from a venture capital firm? "No, never—not even during the 2023 slump. Furthermore, money isn't, in my opinion, a miraculous fix for anything; at most, it can be an accelerator or facilitator. It doesn't assist you in developing the most effective plan of action before elevating," Berriche said.
Apart from expanding its range of products, the company has made an effort to broaden its customer base by targeting different industries and geographical areas. Nowadays, the bulk of Fleet's 120-country clientele consists of conventional small and medium-sized businesses that aren't supported by venture capitalists.
At present, Fleet serves over 100,000 people and 1,500 businesses; some of its clients are Personio, SafetyWing, SumUp, and Seedtag. It now operates offices in Berlin, Paris, and Barcelona and is set to open a second location in London. In terms of income, July 2024 was also Fleet's best month ever.
Modern, functional laptops are one thing, but an essential component of any regular IT department is proper management of them. Fleet is therefore adding software and increasing the range of services offered.
At present, Fleet serves over 100,000 people and 1,500 businesses; some of its clients are Personio, SafetyWing, SumUp, and Seedtag. It now operates offices in Berlin, Paris, and Barcelona and is set to open a second location in London. In terms of income, July 2024 was also Fleet's best month ever.
Modern, functional laptops are one thing, but an essential component of any regular IT department is proper management of them. Fleet is therefore adding software and increasing the range of services offered.
Fleet has the option to distribute laptops and cellphones that come pre-installed with Omnissa's Workspace One mobile device management (MDM) solution. Additionally, customers have the option to purchase Keeper as a password manager for their teams or Bitdefender as a cybersecurity solution.
Hofy is another business that has been attempting to sell IT as an external service. The remote recruiting platform Deel purchased the business. Many businesses find that using services like Fleet or Hofy makes sense, particularly if they have dispersed teams.
"Our goal is to become SMBs' go-to source for all things IT. We think that providing this comprehensive solution—made possible, in part, by computer leasing—allows us to establish a commanding position with our clients. We can assist in adding software and increasing the range of services offered.
Fleet has the option to distribute laptops and cellphones that come pre-installed with Omnissa's Workspace One mobile device management (MDM) solution. Additionally, customers have the option to purchase Keeper as a password manager for their teams or Bitdefender as a cybersecurity solution.
them in putting best practices for cybersecurity and IT into effect," stated Berriche.
Nice work
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