The investment will be used to scale up the operations in the Nordics and to integrate large retail chains and e-retailers. Board member and early investor Jonas Bonde also participates in the round.
LeaseCloud has digitalised leasing with its proprietary platform, enabling retailers and e-taller to offer leasing as an on-the spot payment option at the checkout.
“Contract volume increased by 800% in 2018 compared to previous year and we are only at the start of an exciting journey to build our footprint in the Nordics. We reached long-term break-even already last autumn, only 18 months from the start”, says Martin Björnström, CEO of LeaseCloud. ”Our mission is to make leasing available as a competitive payment option when small business owners make their online shopping. We enable them to order computers, phones, furniture and equipment in a smooth way and at a low monthly cost” continues Martin.
With LeaseCloud, the customer can chose preferred lease payment terms and contract period directly at the time of check-out in a highly efficient interface. The customer can sign final agreements via BankID at the time of check-out as automatic credit checks are completed instantaneously on check-out. Leasing should not be more difficult than to use Swish. “Before LeaseCloud, leasing required complicated contracts, manual intervention and time delays. We see enormous potential with LeaseCloud who has digitalised the workflow and significantly lowered the transaction costs” says Peter Carlsson, partner at Spintop Ventures.
Leasing uses the financed product as collateral, which bring low risk and thus lower interest rates than corporate loans. Example of products financed are computers, telephones, furniture and office equipment. LeaseCloud’s digital platform enables small leasing transactions – so-called micro leasing. There are over one million small companies in Sweden and more than 5,000 new companies are registered every month. Together, they purchase IT and mobile products for over SEK 10 billion a year only in Sweden.
Peter Carlsson, Partner Spintop Ventures. Martin Björnström, CEO LeaseCloud, Linus Jönsson, CFO LeaseCloud.
Facts about LeaseCloud
LeaseCloud is based in Stockholm with subsidiaries in Denmark, Norway and Finland. The company started in 2017 and currently has nine employees.
Example of the concept store: https://www.permanad.se/
Facts about Spintop Ventures
Spintop Ventures, founded in 2009, is a venture capital firm investing in early stage technology companies from across the Nordic region.
Peter Carlsson, Partner Spintop Ventures
email@example.com, +46 707 822 608
Martin Björnström, CEO LeaseCloud AB
firstname.lastname@example.org, +46 708 298 700