Fleet, a French company specializing in IT fleet management, equipment, and security for SMEs, has announced the entry of ISAI Expansion into its capital through the ISAI Expansion III fund, at a valuation of €100 million.

Bootstrapping and a new phase

After seven years of being entirely bootstrapped, Fleet is opening its capital to external investors for the first time. This primary LBO transaction provides liquidity to the two founders, Sevan Marian and Alexandre Berriche, as well as to employees, while preserving a majority-independent shareholding structure.

From a leasing startup to a global platform

Founded in April 2019, Fleet initially developed around a leasing offering that enabled SMEs to spread their IT investments over time. The company has gradually expanded its positioning to support SMEs with 5 to 500 employees, often with a strong international footprint, built around three core pillars: IT procurement, with deliveries to over 120 countries in under 48 hours, day-to-day IT fleet management, and cybersecurity.

International expansion

Fleet delivers in roughly 20 countries spanning India, Asia, and Africa, and operates across Europe and the US. This structure, according to Marian, strengthens its cross-border positioning. Alongside its geographic expansion, the company has become more sales-led.

A unique model

Fleet offers an international solution that combines leasing, financing, purchasing, warranty, insurance, and cybersecurity in one platform. In 2025, the company recorded growth of over 90 per cent, while maintaining a profitable model and a deliberately lean organisation.

Bootstrapping as a strategy

Marian says the decision to bootstrap versus raise venture capital ultimately comes down to business fundamentals and founder priorities. Today, Fleet employs 45 people across Paris and Barcelona, serves nearly 2,000 clients, and operates actively in around ten European countries as well as in the United States.