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

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

The start-up Fleeti has closed a seed funding round of 3 million euros from investors such as Newfund, Janngo Capital, PG Dev and Proparco. This 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 launch 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, control of safety procedures and equipment maintenance management.

The solution easily integrates into customers' everyday software thanks to automated data sharing to other information systems. Companies thus have a 360° view of their operations, enabling them to reduce their fuel consumption by up to 20%, increase the productivity of their fleet by 15% on average and strengthen its 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 safety 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 beginning to extend it to new equipment in order to cover the majority of its customers' physical assets. This funding will therefore enable it to continue investing in R&D and accelerate its development in the colossal market of operational IoT, which is worth more than 20 billion euros.

Iban Olçomendy, co-founder and CEO of Fleeti declares: "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 operational chains are managed to make them more efficient, sustainable and secure."

Salim Hassad, Investment Director at Newfund adds "We were impressed by the vision of the co-founders and their ability to execute their strategy in several countries and to conquer new markets very quickly. The opportunity is enormous and this is only the beginning of the adventure."

Fatoumata Bâ, Founder and Executive Chair of Janngo Capital comments "We are delighted to support Fleeti through this new round of funding as the team has demonstrated its ability to offer an innovative technological solution enabling its customers to ensure the safety of their employees, improve their operational efficiency, optimise their logistics costs and reduce their CO2 emissions. We are also very proud to support a start-up born in Senegal, which has successfully expanded into 9 African countries before launching its conquest of France."

Natascha Korvinus, Senior Investment Officer at Proparco explains "With its Bridge by Digital Africa scheme, we are proud to support innovative start-up companies in Africa, such as Fleeti. Proparco is strongly committed to supporting the new generation of entrepreneurs active throughout Africa, including French-speaking Africa, where investment for start-ups is lagging behind their peers in other parts of the continent."

Isadora Bigourdan, Digital Africa "We are very pleased to contribute to strengthening Fleeti's scalability trajectory, in particular thanks to the Bridge by Digital Africa programme".

About Fleeti : Fleeti is a fast-growing company operating between France and 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 strengthen the safety, performance and viability of their operations in the field.

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 United States. Since its launch in 2008, Newfund has invested in more than 150 start-ups, nearly a third of which are American. Newfund participates in seed funding rounds with initial tickets of 250,000 euros to 2 million euros in support of initial international development and supports entrepreneurs in the long term with follow-on. On the subscriber side, Newfund brings together 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 conviction 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 euros in technology start-ups across Africa, addressing market failures while creating massive employment, particularly for women and young people.

Janngo Capital operates under a "full-AIFM" license for the management of alternative investment funds with offices in Abidjan and Paris. 56% of its portfolio companies are led by women and 54% operate in French-speaking Africa, like the champions Sabi and Expensya. Janngo Capital invests in all sectors, in particular health, logistics, financial services, retail, agri-food, 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 transfer projects in its region. As part of the Crédit Agricole group's private equity business, Pyrénées Gascogne Développement is aimed at entrepreneurs, SMEs and mid-sized companies, with a long-term vision focused 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 Group (AFD Group) dedicated to the private sector, Proparco has been working for over 45 years to promote sustainable economic, social, and environmental development. Proparco participates in the financing and support of companies and financial institutions in Africa, Asia, Latin America, and the Middle East. Its work 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 jobs and decent incomes, 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 at scale to serve the real economy. Acting as a catalyst, Digital Africa brings together a group of partners of all nationalities - startups, researchers, incubators, institutional financiers, venture capitalists, tech clusters - committed to African digital entrepreneurs, among whom Proparco is a unique partner.