London Fintech Ooodles Secures $2.7M to Launch AI Platform in Ireland, Targeting 309,000 SMEs

November 12, 2024
London Fintech Ooodles Secures $2.7M to Launch AI Platform in Ireland, Targeting 309,000 SMEs
  • Poggiali emphasized that Ooodles addresses significant challenges faced by underserved SMEs, providing solutions that resonate well with their needs.

  • The company emphasizes sustainability by recycling returned devices and aims to achieve full carbon neutrality by 2026.

  • Founded in 2021 by Leonardo Poggiali and Kannan Reghu, Ooodles offers a flexible Pay-As-You-Go IT leasing model that allows SMEs to customize their services without penalties.

  • Ooodles, a London-based fintech startup, has successfully raised $2.7 million in funding to expand its operations into Ireland and enhance its IT procurement services for SMEs.

  • This funding will allow Ooodles to launch its AI-driven platform, Ooodles OS, in Ireland, targeting over 309,000 Irish SMEs for the first time.

  • The funding round was led by āltitude, a Europe-based SME tech fund, with support from existing investors including Traditum, a UK family office with a background in IT and banking.

  • The platform assists SMEs with credit approvals, inventory management, and device upgrades, leveraging AI to tailor solutions for fleet management.

  • Ooodles' model promotes cost savings, improved cash flow, and enhanced security for SMEs while also addressing sustainability through reduced e-waste.

  • To date, Ooodles has activated over £4 million in credit lines to help SMEs manage their cash flow more effectively.

  • Ooodles has experienced 24 months of consecutive growth, boasting a 96% retention rate and strong customer recommendations from its UK SME clients.

  • As part of its European expansion plans, Ooodles aims to triple its customer base within the next year.

  • Operating independently, Ooodles owns every aspect of its service, offering over 10,000 pre-configurable products available for next-day delivery.

Summary based on 2 sources


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Sources

Ooodles raises $2.7M for Ireland expansion

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