Bootstrapped companies like Fleet often receive less attention in startup news than venture-backed firms, as they lack high-profile funding rounds to showcase yet still achieve steady growth
The Paris-based company initially provided a method for renting hardware.
Rather than investing a significant amount of money in acquiring many laptops for their employees, companies could use Fleet to lease devices and pay a monthly charge.
The company is introducing various software services in addition to its hardware-as-a-service offering, including cybersecurity, insurance, and device management.
Fleet, a bootstrapped organization, optimized its operations to maintain a streamlined structure and spend less money than it generates. For example, the organization does not possess a warehouse, as it delivers devices directly to its clients.
Similarly, the organization collaborates with financial institutions to allow them to directly manage credit lines, thereby eliminating any potential risks associated with failing payments.
Financial institutions can access a previously underserved market through Fleet in exchange. The company has expanded its product line to include various items, including accessories, furniture, phone booths, tablets, and smartphones.
Nevertheless, the journey has not been without its challenges. The venture expanded with the French tech ecosystem, which experienced substantial growth over several years.
However, entrepreneurs in France have encountered increasing difficulty in securing funding on a local level, as is the case in other ecosystems worldwide. To remain solvent, numerous organizations have implemented multiple cycles of layoffs.
In an interview with TechCrunch, Alexandre Berriche, Fleet’s co-founder and CEO, he expressed his initial concern regarding the slowdown in startup fundraising and recruiting anticipated during the latter half of 2022.
“However, I believe it was ultimately advantageous for us, as it motivated us to expand our revenue streams.”
When its clients reduced their personnel to address the revenue gap, did the startup consider raising funds from a VC firm? “Never, not even during the 2023 recession.”
Furthermore, I think that money is not a panacea. At most, it serves as an accelerator or facilitator. Berriche stated, “It is not conducive to devising the most effective strategy before raising funds.”
The company has broadened its clientele by incorporating new products into its lineup and expanding it across industries and regions.
Currently, most of Fleet’s clients are traditional, small, and medium enterprises that VCs do not support. These clients are based in 120 countries.
Fleet collaborates with approximately 1,500 organizations and serves approximately 100,000 consumers. Its clients include Seedtag, SafetyWing, SumUp, and Personio.
It is establishing a new office in London and currently has offices in Barcelona, Paris, and Berlin. In terms of revenue, July 2024 was Fleet’s most successful month.
One aspect of the typical IT department is the possession of functional, recent laptops; however, ensuring that they are properly maintained is equally critical. Fleet is diversifying its offerings to include software and additional services.
For instance, Fleet can distribute smartphones and laptops pre-installed with Omnissa’s Workspace One, a mobile device management (MDM) solution.
Additionally, customers can acquire Bitdefender as a cybersecurity solution or Keeper as a password manager for their teams.
Hofy is another organization that has been engaged in the process of transforming IT into an outsourced service. Deel, the remote employment platform, acquired the company.
Many companies, particularly those with distributed teams, find that services such as Hofy or Fleet are advantageous.
“Our goal is to establish ourselves as the lone source for all IT needs of small and medium-sized businesses.”
ProvidingThisnsivesolutionsn, mainly through computer leasing, enables us to establish a strategic relationship with our customers.
Berriche stated, “We can assist them in implementing best practices in cybersecurity and information technology.”
