London-based Ooodles, a fintech startup that specialises in IT procurement for SMEs, announced that it has secured an additional $2.7M (approximately €2.54M) in funding.
Besides, the company also announced that it is expanding internationally with a launch in Ireland. This marks the company’s first venture outside the UK, bringing its AI-driven platform, Ooodles OS, to over 309,000 Irish SMEs.
Ooodles’ funding came from āltitude VC, Europe’s first fund focused on SME tech, with participation from existing investors and the UK-based family office Traditum.
Videesha Boeckle, Partner at āltitude, says, “Ooodles truly understands both the importance of and the challenges faced by SMEs today. Its flexible tech platform offers the agility that SMEs need to overcome operational hurdles in a rapidly changing digital world.”
“This innovative and truly stand-out approach aligns with āltitude’s belief in the potential of SME tech as the next major growth frontier, and it’s refreshing to see a company so committed to helping businesses unlock this potential.”
Capital utilisation
Ooodles will use the funds to support in advance its technology and grow its customer base, building on 24 months of consecutive growth.
Ooodles claims that its platform currently serves a diverse range of UK SMEs, maintaining a high 96 per cent retention rate and a strong customer recommendation score.
With this momentum, the startup aims to continue expanding across Europe, projecting to triple its customer numbers within the next year.
IT leasing for SMEs
Ooodles is reshaping IT procurement for SMEs with a flexible, Pay-As-You-Go model that combines the benefits of purchasing and leasing. The company was launched in 2021 by Leonardo Poggiali and Kannan Reghu, who draw on their 15+ years of experience scaling startups in Europe and Asia.
CTO and co-founder Reghu says, “At Ooodles, we’re not just transforming IT procurement; we’re setting the standard for what flexible, sustainable, and scalable solutions should look like in the future.”
“By owning the full stack, we give SMEs the agility and customisation they need to grow, and we’ve done this by stripping the entire process back to basics and rebuilding it from scratch to create something that truly stands out and is impactful – not just for our customers but for the planet.”
“The traction we’ve seen in the UK validates this, and expansion to Ireland is just the beginning. We’re excited to bring Ooodles’ game-changing platform to even more businesses,” adds Reghu.
Unlike traditional options, Ooodles offers customisable plans starting at £3 per month, allowing SMEs to adjust lease terms without penalties, change their device lineup, and even receive credit if they switch to a cheaper plan. This approach aims to provide businesses with financial agility and convenience.
Ooodles claims that its model has led to an average device renewal rate of every 26 months, well below the five-year industry standard, and encourages frequent hardware upgrades, with 73 per cent of SMEs opting for higher-spec devices and 87 per cent upgrading their contracts to leverage full flexibility.
Through a single AI-driven platform, SMEs can manage credit approvals, inventory, and upgrades, streamlining their IT needs while addressing sustainability goals by reducing e-waste. The model also helps SMEs save on costs, improve cash flow, and stay up-to-date with security needs.
Over the past year, Ooodles has activated more than £4M in credit lines to help businesses improve their cash flow.
Operational control
Ooodles owns every part of its service, from financing to technology management. As a licensed fintech, the company operates independently of brokers or third-party platforms, allowing it to leverage its AI-driven Ooodles OS for streamlined efficiency and profitability.
This approach enables Ooodles to offer a selection of over 10,000 pre-configurable products, available for next-day delivery, ensuring continuity for small and medium-sized enterprises (SMEs).
Leonardo Poggiali, co-founder and CEO of Ooodles, says, “Whether it’s agencies needing high-performance laptops without upfront costs, or fast-growing startups looking to quickly equip their teams with the best devices, every time I meet new clients, there’s a moment when everything clicks; a lightbulb moment where they realise they no longer have to put up with restrictive leasing and can finally have the freedom and flexibility Ooodles provides.”
“We’re solving real problems that millions of underserved SMEs face and creating a perfect market fit where our solution immediately resonates and businesses are left wondering why they put up with poor alternatives for so long.”
In addition to providing flexibility and reliability, Ooodles emphasises sustainability. The company recycles and repurposes thousands of returned devices, contributing to improved ESG ratings for clients and reducing e-waste.
With plans to become fully carbon-neutral by 2026, Ooodles is expanding its impact in IT leasing, combining operational control with environmental responsibility.
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