$8M in debt financing for VR Ventures’ portfolio company ConTech Flexcavo
Flexcavo has received $8M to expand the construction machinery fleet
After successfully closing the seed financing round, the Berlin-based startup is now increasing its capital by around 8 million USD, led by Vereinigte Volks- and Raiffeisenbank eG. In addition, akf bank is lending ConTech Flexcavo capital for further growth in their machinery fleet in Maisach and Rosenheim with new machinery and equipment from the manufacturer JCB and Wacker Neuson.
The future promoter of the construction industry
ConTech Flexcavo serves as a central platform for construction companies to manage their machinery fleets as well as handle digital construction sites and cost documentation. With its software solution, the young company aims to increase productivity for construction companies by reducing both economic and ecological costs along the entire construction machinery lifecycle.
The Berlin-based startup is on a mission to enable intelligent construction by building an ecosystem combining software and physical assets, such as construction equipment. As a result, Flexcavo increases sustainability and long-term profitability for construction companies.
Expansion of Flexcavo’s construction machinery fleet
The new capital will initially be used to equip the newly opened rental park in Maisach and Rosenheim. Over 150 new machines and equipment are already planned by manufacturers JCB and Wacker Neuson for the approximately 4,500m2 site, including halls and outdoor areas.
“The construction industry is in a state of upheaval. We are pleased to support Flexcavo in the digitalization of the construction industry,” stated Ralf Magerkurth, board member of Vereinigte Volks- und Raiffeisenbank eG.
Redstone and VR Ventures are delighted to be supporting Flexcavo’s journey in their growing and developing status.