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UK Startup Ooodles Raises €11.2M

UK-based tech rental startup Ooodles has recently secured a staggering €11.2 million in funding, marking a significant milestone for the innovative company.

Founded in 2021 by industry veteran Leonardo Poggiali, Ooodles is revolutionising the way small and medium-sized enterprises (SMEs) access high-end technology by offering a flexible and cost-effective Device-as-a-Service solution.

This exciting new platform is transforming the IT tech buying landscape, providing SMEs with an affordable one-stop-shop for top-of-the-range laptops, phones, and other tech rentals.

The considerable investment, led by Paris-based asset manager Smart Lenders Asset Management (SLAM), demonstrates a strong belief in the potential of Ooodles and its mission to empower SMEs across the UK.

The funding will undoubtedly propel Ooodles forward, giving them the much-needed financial boost to scale up their services and further cement their position as a leader in the tech rental industry.

With a strong commitment to addressing the underserved SME market and a focus on long-term sustainability, Ooodles is poised to make a significant impact in the rapidly growing tech landscape.

Growth and Funding

Having raised substantial funding, Ooodles aims to expand its market reach and serve more SMEs with its unique device-as-a-service platform. The company plans to fuel international expansion and establish a strong presence in the US and other countries, creating a global online marketplace for tech rentals.

Impact on Market

By offering affordable and flexible tech rentals to SMEs, Ooodles stands to make a significant impact on the way businesses acquire and manage IT assets. Their innovative platform simplifies the IT procurement process, allowing companies to focus on their core operations while benefiting from high-end laptops, phones, and other technological tools.

Sustainability Transition

In alignment with ESG principles and focusing on sustainability, Ooodles’ business model supports a more environmentally responsible tech industry. By offering a rental platform, the company tackles the issue of e-waste and contributes to the wider cleantech movement.

Competitor Landscape

Ooodles joins a competitive space that includes German tech rental service provider Grover and Japan’s Sony Bank. Each company offers different solutions and approaches to tech rentals, with varying levels of innovation and digital infrastructure.

The Role of Innovation

Key to Ooodles’ growth is its innovative platform, which incorporates capabilities like credit approvals and inventory management to streamline operations for both the company and its customers. This focus on innovation sets Ooodles apart and enables it to provide unparalleled service in the tech rental market.

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