After the successful completion of the seed financing round with 7.5 million USD in September 2021, the Berlin-based ConTech start-up is now increasing its capital by around 8 million USD through a number of selected debt providers. The asset-backed funding is led by Vereinigte Volks- und Raiffeisenbank eG. In addition, akf bank is lending the young company capital for new machinery and equipment from the manufacturer JCB. Manufacturer Wacker Neuson has been supporting Flexcavo since day one. This year, the associated in-house financing company Wacker Neuson Finance will continue to invest in the expansion of Flexcavo’s construction machinery fleet with Wacker Neuson machines.
The new capital will initially go toward equipping the newly opened rental park in Maisach near Munich. Over 150 new machines and equipment are already planned by manufacturers JCB and Wacker Neuson for the approximately 4,500m² site, including halls and outdoor areas.
Machines from Wacker Neuson on Flexcavo rental park in Maisach, Munich
Innovative and future-oriented
Flexcavo was founded in July 2020 by Benedict Aicher and Leonhard Fricke to accelerate the digitalization of the construction industry. The company pursues two main business models: on the one hand, it rents construction equipment of well-known manufacturers to construction companies of all sizes. On the other hand, it develops software solutions for digital fleet management.
Now, the company employs over 40 people and the operating system FlexcavoOS is already being used by large construction companies, such as Peter Gross Bau. The network of machine rental parks in Germany is constantly expanding due to confident partnerships with well-known manufacturers in the construction industry, such as JCB and Wacker Neuson.
"Flexcavo's dynamic and solution-oriented approach is impressive," says JCB Construction Equipment Sales Manager Carsten Butt. "With our broad and modern model range of construction equipment, we are an ideal supplier and partner for the customer needs of Flexcavo's rental customers."
Shared ambitions as the cornerstone of successful collaboration
The rental parks in Rosenheim and Munich are already equipped with over 100 of Wacker Neuson's machines and equipment, with more to follow. "In Flexcavo, we have found an ambitious and professionally positioned partner with whom we are looking forward to working side by side over the next few years," says Volker Steen, Key Account Manager at Wacker Neuson. "Our ambitions matched right from the start."
"Both the issue of sustainability through more efficient use of the machinery on the construction site and the professional implementation of an asset-as-a-service model by a young, innovative company with a dynamic management team convinced us," says Dr. Frank Henes, CEO of akf bank.
Vereinigte Volks- und Raiffeisenbank eG led by board member Ralf Magerkurth is convinced by the vision Flexcavo is pursuing. "The construction industry is in a state of upheaval", says Ralf Magerkurth. “We are pleased to support Flexcavo in the digitalization of the construction industry.” After successfully completing the seed financing round, lead investor VR Ventures brought Vereinigte Volks- und Raiffeisenbank eG together with Flexcavo. Andreas Laule, board member at VR Ventures adds: "We are happy to accompany such a young and ambitious company in this growing status as an investor."