Summary:
Fleet is a bootstrapped startup that has grown without external funding.
They provide hardware leasing services, allowing companies to rent laptops.
Fleet is expanding into software services like device management and cybersecurity.
The company has 1,500 clients across 120 countries, reaching peak revenue in July 2024.
Their goal is to become the one-stop IT solution for small and medium businesses.
Fleet: The Bootstrapped Startup Making Waves in IT Services
Bootstrapped companies often fly under the radar compared to their venture-capital-backed counterparts. Fleet, a Paris-based startup, is a prime example of steady growth without external funding.
Originally, Fleet offered a hardware rental service, allowing small businesses to lease laptops instead of purchasing them outright. This model enables companies to manage costs effectively with a monthly fee for devices.
Expanding Beyond Hardware
Now, Fleet is diversifying its offerings with several software services that complement its hardware-as-a-service model. These services include:
- Device Management
- Cybersecurity Solutions
- Insurance Options
To maintain a lean operation, Fleet eliminates overhead by shipping devices directly to customers rather than maintaining a warehouse. They also partner with financial institutions to manage credit lines, reducing risk and opening up new market opportunities. Over time, Fleet has expanded its product range to include smartphones, tablets, accessories, and more.
Navigating Challenges
Despite a thriving startup scene in France, Fleet has faced challenges, particularly in fundraising. Many startups have struggled with layoffs and funding issues. Fleet's co-founder and CEO, Alexandre Berriche, noted that the slowdown in fundraising prompted the company to diversify its revenue sources, which ultimately proved beneficial.
Even during tough times, Fleet opted not to seek VC funding, believing that money isn't a panacea for strategic planning. Instead, they focused on broadening their client base, which now includes 1,500 companies across 120 countries.
Aiming for Comprehensive IT Solutions
Fleet has recently reached its best revenue month to date in July 2024, signaling strong demand for its services. They are also enhancing their software offerings, providing clients with pre-installed mobile device management (MDM) solutions and cybersecurity tools like Bitdefender and Keeper.
Berriche envisions Fleet as the one-stop shop for IT solutions tailored specifically for small and medium-sized businesses (SMBs). By integrating leasing with comprehensive IT services, Fleet aims to solidify its strategic position and support clients in implementing best practices in IT and cybersecurity.
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