French IT fleet management company Fleet has secured its first-ever external investment, welcoming growth investor ISAI Expansion at a valuation of €100 million. The transaction marks a major milestone for the Paris-based company, which has grown entirely through bootstrapping since its founding in 2019.
The deal opens Fleet’s capital for the first time, providing partial liquidity to founders Sevan Marian and Alexandre Berriche, as well as to early employees, while allowing the company to retain strategic independence. The investment follows ISAI Expansion’s long-term growth model, focused on supporting profitable scale-ups rather than pushing for rapid exits.
Building a modern approach to IT fleet management
Fleet was founded to address a persistent operational challenge faced by small and mid-sized companies: managing IT equipment efficiently as teams grow and become more distributed. Instead of requiring upfront hardware purchases, Fleet introduced a leasing-based model that enabled businesses to equip employees while preserving cash and reducing balance sheet pressure.
Over time, the platform evolved beyond hardware financing. Fleet now offers an end-to-end IT operations solution covering device procurement, lifecycle management, and cybersecurity services through a single interface. Its proposition is aimed at companies with between 5 and 500 employees, particularly those scaling internationally or operating with remote and hybrid teams.
Designed for distributed and global teams
Fleet’s platform is built to support companies hiring across borders. The company can deliver IT equipment to more than 120 countries, often within 48 hours, making it well suited to fast-growing startups and international organisations. Services currently span around 20 active markets across Europe, the United States, India, parts of Asia, and Africa.
This global capability has become increasingly important as businesses adopt remote-first or multi-country hiring strategies. Fleet’s model allows companies to standardise IT operations while remaining compliant with local requirements, without the need to manage multiple suppliers.
Profitable growth without external capital
Until the ISAI Expansion transaction, Fleet had grown without raising external funding. This capital-efficient approach shaped the company’s operating culture, with a focus on execution, customer retention, and repeatable expansion rather than aggressive fundraising.
In 2025, Fleet reported more than 90% year-on-year growth while remaining profitable. According to co-founder Sevan Marian, the company’s success has been driven by disciplined expansion playbooks that allow Fleet to enter new markets efficiently and scale alongside its customers.
Today, Fleet employs around 45 people across Paris and Barcelona and serves close to 2,000 customers. Many clients expand their relationship with Fleet over time, adding new devices, software licences, and security services as their teams grow.
Strategic backing to support the next phase
ISAI Expansion’s investment provides Fleet with long-term capital to accelerate its development without compromising independence. Rather than pursuing a full exit, the structure is designed to support sustainable growth, operational scaling, and continued international expansion.
As companies face increasing complexity in managing distributed workforces and IT security, Fleet’s positioning as a unified IT operations platform places it at the intersection of FinTech-style leasing models and enterprise IT infrastructure. The new backing values Fleet as one of Europe’s emerging scale-ups in IT services, while reinforcing the viability of bootstrapped growth in the region’s SaaS ecosystem.
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