London-based Ooodles raises €11 million to turn IT tech buying on its head with its rental platform for SMEs

Ooodles Raises $12M in Funding

Ooodles, a UK-based startup offering SMEs a go-to, one-stop-shop for simple, affordable and flexible tech rentals, announced it has raised €11 million, led by Paris-based asset manager, Smart Lenders Asset Management (SLAM). Founded in 2021 by industry veteran Leonardo Poggiali, Ooodles is a Device-as-a-Service startup giving the underserved SME market access to high-end laptops, phones, and other business-critical IT tech on a flexible and sustainable monthly basis. The funding will be used to further expand Ooodles’ circular offering across the UK ahead of plans to launch internationally. The company is also aiming to be carbon-neutral by 2025.

Ooodles Raises €11 Million to Expand Tech Rental Platform for SMEs

Ooodles is a UK-based startup offering SMEs a go-to, one-stop-shop for simple, affordable and flexible tech rentals. Founded in 2021 by industry veteran Leonardo Poggiali, Ooodles is a Device-as-a-Service startup giving the underserved SME market access to high-end laptops, phones, and other business-critical IT tech on a flexible and sustainable monthly basis. Instead of SMEs having to spend vast sums paying upfront for tech that depreciates the second it’s turned on, Ooodles flips the outdated buy-sell model on its head. It offers a fully customisable Pay-As-You-Go subscription model in which SMEs can immediately access the tech they need, get rid of what they don’t, and upgrade instantly online. Not only does Ooodles help SMEs free up crucial capital for other core business investments, but it reduces the costs associated with obsolete IT. It gives leaders the flexibility to increase and decrease their tech on-demand. It allows teams to stay at the forefront of innovation and security, and it removes the burden of tracking and accounting for devices. All via a fully-digital, end-to-end platform that covers everything from credit approvals to inventory management and upgrades. Most significantly, however, is that Ooodles directly feeds into the circular economy. Devices stay in a virtuous reuse-recycle loop that takes Ooodles far beyond the limitations of second-hand platforms in a way that not only benefits the ESG ratings of its customers, but directly benefits the planet. In particular, Ooodles’ approach aligns with the UN’s Circular Vision for Electronics – a set of guidelines and recommendations designed to address the rising problem of e-waste globally. According to the UN, approximately 50 million tonnes of e-waste are produced each year which is equivalent in weight to all commercial aircrafts ever built. Yet only 20% is formally recycled and reused. If nothing is done, the amount of waste will more than double by 2050, to 120 million tonnes annually.

Ooodles is a UK-based startup offering SMEs a go-to, one-stop-shop for simple, affordable and flexible tech rentals.

2 years ago

Ooodles Raises €11 Million to Expand Tech Rental Platform for SMEs

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