Ooodles, a London-based fintech startup specializing in flexible IT equipment rentals for small and medium-sized enterprises (SMEs), has announced its first international expansion into Ireland. This move is supported by a new £2 million funding round led by āltitude VC, Europe’s premier technology fund for SMEs, along with backing from existing investors, including Traditum.
With this funding boost, Ooodles plans to enhance its AI-driven platform, Ooodles OS, which powers its subscription-based device leasing service for businesses. The expansion aims to bring Ooodles’ offerings to over 300,000 Irish SMEs, providing a flexible, scalable alternative to traditional purchasing.
The latest funding follows a significant £9.8 million investment last year from Smart Lenders Asset Management, which enabled the company to experience continuous monthly growth and retain an impressive 96% of its client base. With the expansion to Ireland, Ooodles projects that it will triple its customer base in the coming year and is committed to reaching full carbon neutrality by 2026.
“We’ve hit on a solution that clearly resonates with our customers,” said Leonardo Poggiali, Co-founder and CEO of Ooodles. “Businesses find our model a breath of fresh air compared to conventional approaches. It’s all about flexibility and simplicity.”
Ooodles’ pay-as-you-go model allows businesses to rent IT devices, including computers and tech equipment, on a subscription basis, giving them the flexibility to upgrade or return equipment as needed. On average, devices with Ooodles are refreshed every 26 months—significantly more frequently than the industry’s five-year standard—ensuring businesses have access to up-to-date technology without a heavy initial investment.
Using AI-powered tools, Ooodles OS allows SMEs to efficiently manage device networks with tools for credit assessment, inventory tracking, and seamless upgrades—all in one user-friendly platform. According to CTO Kannan Reghu, the success seen in the UK market was a clear signal to expand further. “We’re thrilled to bring Ooodles’ revolutionary platform to Ireland, where we can support even more businesses,” he shared.
The investment partner at āltitude, Videesha Boeckle, commented on Ooodles’ unique business approach: “It’s inspiring to support a company so committed to transforming how SMEs access and manage technology, unlocking new growth potential.”
Founded in 2021, Ooodles is fully FCA-regulated and operates under a device-as-a-service model that emphasizes reusability and sustainability. Through its end-to-end platform, Ooodles empowers SMEs with affordable, adaptable technology solutions that cater to the fast-evolving needs of small businesses.
