Flecto, a Lisbon, Portugal-based rental platform that helps businesses thrive in the circular economy, secured €1.2 million in a funding round led by MSM, Übermorgen Ventures, and Techstars.
The fresh investment will be used by Flecto to continue supporting companies to transition their businesses to a circular model – namely encouraging the implementation of subscription and rental models.
Company: Rnters, Unipessoal Lda.
Raised: €1.2M
Round: Unknown
Funding Month: June 2022
Lead Investors: MSM, Übermorgen Ventures and Techstars
Additional Investors:
Company Website: https://flecto.io/
Software Category: Rental platform
About the Company: Flecto is the platform that unlocks rental operations and optimizes the experience for both people and businesses. A rental model enables a higher turnover of products, extending their life cycle and thus reducing the need for non-renewable resources as well as unnecessary CO2 emissions. From managing inventory, reservations, and customers to accessing insurance or creating an online store, Flecto, founded in 2016, has been built to allow these circular-minded companies to initiate rental operations with their customers, accelerating their adaptation process to a more sustainable model. Flecto provides a customizable experience that adapts to each business and grows with the company. The company already has more than 150 clients.
Source: https://www.eu-startups.com/2022/06/lisbon-based-flecto-bags-e1-2-million-to-fuel-the-transition-to-a-circular-economy/