Driven by environmental concerns and attracted by the lucrative market, more and more traditional retailers are looking for circular and sustainable models. Allowing these companies to start rental operations with their customers based on the Lisbon platform Flecto has raised 1.2m euros in funding. The circle was led by MSM,, √úbermorgen Venturesand Techstars.

In May 2020, the startup raised 200,000 euros in an investment round. With the new money in its portfolio, Flecto plans to expand its reach to France, Italy and the United Kingdom

The Portuguese platform, formerly known as Rnters, allows its customers to simplify and digitize complex operations and manage all their hiring operations intuitively in one platform. This can range from inventory management, reservations and customers to accessing insurance or setting up an online store. The startup provides a personalized experience that adapts to any business and grows with the company. So each brand can offer an alternative to buying and be part of the circular economy, a market worth 36 billion euros in Western Europe alone.

But how does the business of renting between companies work? Registration of each rental is flexible. The platform allows document identification, payment collection and guarantees in an easy and digital way. Companies also have access to a professional insurance policy to protect all their products, as well as the opportunity to create their own online store. So now these companies can rent a variety of items such as photographic and video materials, sound or lighting systems, game consoles, computers, drones or bicycles through the platform.

Guillermo Gera, co-founder and CEO of Flecto, said: “Companies have already used our platform to build online stores and manage inventory. We saw the opportunity for our product to solve major problems in the equipment rental industry. This is what has led to the transformation from a partner rental market to SaaS partners, where companies can manage rental operations and use online store sales.

https://tech.eu/2022/06/22/portuguese-platform-flecto-nabs-eur12-million-to-boost-transition-to-retail-circular-economy

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