The German contech Startup Flexcavo raised 7 million euros just a few months after the previous successful funding round of 6.5 million euros. The new funding was led by Vereinigte Volks-und Raiffeisenbank eG, while the construction company Wacker Neuson will continue to invest in Flexcavo as will akf bank, which will make additional funds available for new machinery and equipment.
Flexcavo was founded in Berlin in 2020, by Benedict Aicher and Leonhard Fricke, to accelerate the digitization process for the global construction industry, an industry that has lagged behind in terms of the digital transformation taking place internationally. Flexcavo follows two main business models. On the one hand, it rents special equipment from recognized companies in the industry to construction companies of all sizes. In addition, the German Startup is developing software solutions for digital fleet management.
In this way, Flexcavo revolutionizes the way we use construction machinery and shapes the future of the industry, helping contractors to make the best use of their fleet of machines by utilizing state-of-the-art software and technologies.
The company currently consists of a group of more than 40 people and the technology it has developed is already being used by large construction companies, such as Peter Gross Bau. In addition, the network of machine rental parks in Germany is constantly expanding thanks to partnerships with high-profile industry names such as JCB and Wacker Neuson.
“Both the issue of sustainability through the more efficient use of machinery on site and the professional implementation of an asset-as-a-service model by a new, innovative company with a dynamic management team convinced us to invest in the Flexcavo project.”, commented Dr. Frank Henes, managing director of akf bank.
The new funds will go towards the equipment of the recently opened rental park near Munich, with over 150 new machines and special equipment designed by manufacturers JCB and Wacker Neuson especially for the park in the Bavarian region.