SEB, through its Ventures unit, is investing 10 million Swedish kronor in fintech outfit Leasify. The company has developed a digital platform that helps small- and medium-sized companies analyse, manage and procure their leasing agreements. “This solution simplifies and creates transparency in a market that companies perceive as tricky and complex,” says Filip Petersson, Investment Manager at SEB Ventures.
Leasify was founded in 2014, began its commercial phase in late 2015 and today has approximately 1,000 businesses connected to its platform. Through the platform, these businesses can to upload their agreements and thus obtain a complete picture of everything from leasing of coffee machines to office equipment and vehicle fleets. Using Leasify’s solution, they can also analyse what they pay for their contracts compared with other companies, and list prices.
Additionally, companies connected to the platform will receive notifications when contracts expire and can then via the platform procure new leasing and financing services. This is done by comparing similar offers provided by 40 suppliers, banks and financing companies that are currently connected to Leasify’s platform.
Businesses do not pay anything to use the service. Instead, Leasify receives a commission from suppliers when a contract is signed.
“This is a win-win situation for all parties. Companies get easier procurement and lower costs, suppliers have a new sales channel and Leasify can develop their business by digitising a market that is currently characterised by manual labour and low transparency,” says Filip Petersson.
Leasify is now raising 15 million kronor, of which 10 million from SEB and 5 million from existing investors. The money will be used to develop the service and increase growth. Focus in the first stage is on the Swedish market.