Catering to the growing demand for its digital leasing platform, LeaseTeq has obtained non-dilutive growth funding to strengthen its market position and accelerate its expansion beyond Switzerland. This step was achieved through Lendity, a provider of growth capital.
By combining financial expertise with advanced technology, LeaseTeq offers a fully digitalized leasing solution to private and corporate customers to facilitate a seamless and paperless leasing checkout experience. Its platform approach includes an immediate credit decision for an efficient, user-friendly, and digital customer experience throughout the entire life cycle. The solution has gained significant recognition and adoption in the market with new OEMs and car dealers onboarded regularly, and it has fostered new business relationships with industry leaders such as Zurich Insurance and Tesla. Building in its strong presence in the Swiss market, the startup is currently pursuing its rapid expansion to German-speaking Europe.
Currently, top-tier investors such as Vi Partners, N&V Capital, Armada Investments AG, and AMYP Ventures AG have invested in the startup, but to keep up the speed with its accelerated customer growth, LeaseTeq sought a fast and flexible funding vehicle to obtain further investment. Lendity, a provider of growth capital, met the startup’s needs. Based on its rapid growth and track record, it granted it non-dilutive funding. This business arrangement comes a few months after Lendity announced the successful start of its debt financing offering for tech startups.
“Having access to non-dilutive finance, especially if it is fast and flexible, becomes a great tool in times of strong growth. Lendity’s understanding of technology companies and their financial needs made it a very smooth process”, comments Joscha Rosenbauer, co-founder and CEO of LeaseTeq.
“Besides the significant business traction, we were impressed with the quality of the team, the technology-first approach and the solid operating model, allowing us to execute the transaction in record time” adds Rafael Karamanian, Partner at Lendity.
LeaseTeq was founded in 2021 in Canton Schwyz led by a team consisting of industry experts who worked for companies such as Porsche, Cembra, Credit Suisse, and Klarna among others. The startup is chaired by Robert Oudmayer, ex-Cembra Money Bank CEO, with Joscha Rosenbauer as CEO and Uwe Riepenhausen as CFO.
(Press release/RAN)
Image by gpointstudio via FreePik
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