Fleeti raises €3 million to accelerate its deployment between France and Africa

With its technology, Fleeti enables companies to collect, centralize and analyze data from their fleet of vehicles, machines and equipment in order to reduce their associated costs, increase their safety and reduce their environmental impact.

The start-up Fleeti has raised €3 million in seed funding from investors such as Newfund, Janngo Capital, PG Dev and Proparco. This latest round will enable the company to continue its international expansion, particularly in Africa, the heart of its development with 9 countries already covered, and to accelerate the marketing of its new products and services.

Founded in 2020 by Iban Olçomendy and Gabriel Delerue, Fleeti develops a SaaS platform with the mission of making companies' operations more efficient, safe and sustainable by combining data analysis and artificial intelligence technologies. The possibilities offered by the tool are vast: geolocation, fuel consumption analysis, cold chain monitoring, car sharing, safety procedure control or equipment maintenance management.

The solution is easily integrated into customers' daily software thanks to automated data sharing with other information systems. Companies have a 360° view of their operations, enabling them to reduce fuel consumption by up to 20%, increase fleet productivity by an average of 15% and improve operational safety.

In a context of rising equipment and energy prices, coupled with the need for companies to reduce their environmental impact and better manage the security of their operations, the Fleeti platform is already used by more than 200 customers including international players such as Vivo Energy, Auchan, CMA CGM and Fedex.

After validating its technological model on light vehicles and trucks, the company is starting to expand it to new equipment in order to cover most of its customers' physical assets. This financing will allow the company to continue to invest in R&D and to accelerate its development in the colossal operational IoT market, which is worth more than 20 billion euros.

Iban Olçomendy, co-founder and CEO of Fleeti said, "The support of these investors demonstrates the relevance of our model and our ability to execute a vision in France and on the African continent. Our technology has the potential to positively transform the way people manage their operational chain to be more efficient, sustainable and secure."

Salim Hassad, Investment Director at Newfund adds "We were seduced by the vision of the co-founders and their ability to execute their strategy across multiple countries and conquer new markets very quickly. The opportunity is huge and this is just the beginning of the adventure."

Fatoumata Bâ, Founder and Executive Chairman of Janngo Capital comments "We are pleased to support Fleeti through this new round of financing as the team has demonstrated its ability to offer an innovative technological solution that allows their customers to ensure the safety of their employees, improve their operational efficiency, optimize their logistics costs and reduce their CO2 emissions. It is also a great pride to support a startup born in Senegal, having successfully expanded to 9 African countries before launching to conquer France."

Natascha Korvinus, Senior Investment Officer at Proparco said "With its Bridge by Digital Africa facility, we are proud to support innovative early stage companies in Africa, such as Fleeti. Proparco is strongly committed to supporting the new generation of active entrepreneurs across Africa, including in Francophone Africa, where investments for start-ups lag behind their peers in other parts of the continent."

Isadora Bigourdan, Digital Africa "We are very pleased to help strengthen Fleeti's scalability trajectory, especially through the Bridge by Digital Africa program."

About Fleeti : Fleeti is a fast-growing company based in France and on the African continent with more than 200 customers, ranging from large international groups to local SMEs. It offers a global data monitoring and analysis platform that enables companies to enhance the safety, performance and sustainability of their field operations.

For more information, visit the Fleeti website: www.fleeti.co

Press contact: Celian Chesnoy / celian.chesnoy@fleeti.co

About Newfund : Newfund is the only 100% early-stage VC with a dual presence in France and the US. Since its launch in 2008, Newfund has invested in more than 150 start-ups, of which nearly a third are American. Newfund participates in seed financing rounds with initial tickets of €250,000 to €2 million to support initial international development and provides long-term support to entrepreneurs in follow-on rounds. On the investor side, Newfund has the largest base of entrepreneurs and family offices in France for an innovation fund.

For more information: https: //www.newfundcap.com/

About Janngo Capital : Janngo creates, develops and finances pan-African digital champions combining economic performance and inclusive social impact, with the belief that technology and capital can accelerate development and the achievement of the SDGs in Africa. Janngo Capital invests from €50,000 to €5,000,000 in technology startups across Africa, addressing market failures while creating massive jobs, particularly for women and youth.

Janngo Capital operates under a full-AIFM alternative investment fund management license with offices in Abidjan and Paris. 56% of its portfolio companies are led by women and 54% operate in Francophone Africa, following the example of champions Sabi and Expensya. Janngo Capital invests in all sectors, in particular, healthcare, logistics, financial services, retail, agribusiness, mobility and creative industries.

For more information: www.janngo.africa

About Pyrénées Gascogne Développement: Pyrénées Gascogne Développement is the subsidiary of Crédit Agricole Pyrénées Gascogne dedicated to venture capital, development capital and transmission projects in its territory. As part of the Crédit Agricole Group's private equity network, Pyrénées Gascogne Développement focuses on entrepreneurs, SMEs and ETIs, with a long-term vision based on proximity and innovation.

Contact: Denis Vilarinho & Jean-Michel Mindeguia / denis.vilarinho@ca-pyrenees-gascogne.fr

About Proparco: A subsidiary of Agence Française de Développement (AFD Group) dedicated to the private sector, Proparco has been active for over 45 years in promoting sustainable economic, social and environmental development. Proparco is involved in financing and supporting companies and financial institutions in Africa, Asia, Latin America and the Middle East. Its action focuses on key development sectors: infrastructure with a focus on renewable energy, agribusiness, financial institutions, health and education. Its interventions aim to strengthen the contribution of private actors to the achievement of the Sustainable Development Goals (SDGs), adopted by the international community in 2015. To this end, Proparco finances companies whose activities contribute to the creation of decent jobs and income, the provision of essential goods and services, and the fight against climate change. For a world in common.

More information on www.proparco.fr - Follow us on Twitter : @Proparco

About Digital Africa: Digital Africa's mission is to strengthen the capacity of African entrepreneurs to design and deploy digital innovations on a large scale to serve the real economy. Acting as a catalyst, Digital Africa brings together a set of partners of all nationalities - startups, researchers, incubators, institutional financiers, venture capitalists, cluster techs - committed to African digital entrepreneurs, at the forefront of which is Proparco, as sole partner.