Germany’s leading online rental platform klarx has raised to €4 million to take European rental market to a new extension of the digital period.
The latest round was led by Target Global in participation with some of Europe’s most successful mobility entrepreneurs, including the founders of Flixbus, Lukasz Gadowski (Founder of Delivery Hero) and Jonathan Teklu (Co-Founder Springstar).
The foundation of klarx
Founded in 2015, the German startup has already served thousands of customers, including some of Europe’s largest construction players, such as Strabag, Max Bögl, and Deutsche Bahn. Since its launch, klarx has done many revolutionary works for the huge €25 billion European market. The recent success of the Munich-based company indicates that the construction industry is looking for innovative sourcing channels. With their vertically integrated platform, klarx’s team is automating many labor-intensive processes creating a win-win situation for their customers and partners.
While it has access to more than 200,000 machines from an extensive partner network, the company provides its customers with unmatched availability, nationwide coverage, and services including logistics and insurance in just a few clicks. Further, the startup will use the fresh funding to grow the team to support the continued expansion across Germany and Europe, build out its technology platform and support the strategic partnerships it has built with leading industry players.
Ben Kaminski, Partner at Target Global, stated: “We have been deeply impressed with the team which has quickly established itself as the leading digital player in the rental of construction equipment and heavy-duty vehicles, a market that is twice the size of the traditional car rental market with no apparent digital incumbent. We believe by applying technology to digitize core elements of rental and logistics, klarx is creating enormous efficiencies for all stakeholders involved in an industry that is still largely offline.”
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