Tracktor, the 1st B2B marketplace for construction equipment rental, raises €12m to simplify the day to day of thousands of SMBs across France and Europe.
February 15th, 2022 – Tracktor, the 1st B2B marketplace for heavy equipment rental simplifying the day to day operations of Construction and Industry SMBs, raises €12m with AXA Venture Partners (AVP), Bpifrance through its Digital Venture fund, and historic investors (Kerala Ventures managed by Antoine Freysz, BTP Capital Investissement, and famous entrepreneurs Pierre Kosciusko-Morizet, Pierre Krings, Xavier Niel and Pascal Casanova).
Cofounded in 2017 by two engineers expert of the industry, TRACKTOR digitalises heavy equipment rental for Construction and Industry SMBs. Its platform frees its clients of all usual constraints to renting, giving them access to negotiated prices with more than 400 professional renters across France, and centralizing all their rentals to give them more visibility on their expenses.
Tracktor already attracted more than 3.500 Construction and Industry SMBs, enabling them to book in 3 clicks any equipment anywhere in France, saving them up to 3 hours per rental. In continuity with its high growth, the company expects to multiply by 3 its revenues in 2022.
This new fundraising will enable Tracktor to hire more highly talented people to double its team by the end of the year. The company’s ambition is to offer the industry’s best customer experience by investing massively in its technology and product: a mobile app is quickly going to be developed to improve its clients’ experience on the field, and a management tool will enable them to centralize all their rental activity and digitalise their internal processes. The goal is to become the standard for renting in France and to prepare its international expansion in Europe starting in 2023.
The new investors appreciated this unique value proposition on a low-digitized but massive and quickly growing construction equipment rentals market, averaging €5bn in France and €30bn in Europe (forecasted to reach €70bn in less than 10 years).
“We chose AXA Venture Partners and Bpifrance for this round because we share the same vision and ambition: to become the 1-stop shop of construction equipment rental with the industry’s best customer experience thanks to our Tech and Product” says Idir Ait Si Amer, co-founder and CEO of Tracktor.
“The Covid crisis was a huge accelerator to the adoption of digital solutions for individuals as well as businesses. We think that the coming years will see the emergence of a lot of B2B marketplaces. In this context, by establishing a marketplace for heavy equipment rental, we believe Tracktor can deeply transform this market for the construction industry. We were convinced by Idir and Julien’s vision and believe that they are the right ones to execute it in France and abroad.” commented François Robinet, Managing Partner of AXA Venture Partners.
“We deeply believe in the value proposition of Tracktor and in its ability to transform this massive and low digitized market. We are delighted to back this great team in the next step of their development.” add Victoire Millerand, Investment Director, and Claire Castel, Senior Investment Manager, of the Digital Venture fund of Bpifrance.
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AXA Venture Partners
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Cofounded in 2017 by two engineers expert of the industry, Tracktor is the 1st B2B marketplace for construction equipment rental. It revolutionizes this industry through a unique technology product freeing its clients of all usual constraints to rent equipment: looking for availability, asking for quotes, comparing prices, handling invoicing, … everything is automated! The platform gives access to 400 professional renters across France ensuring availability, quality and the best market prices for its 3.500 clients. The webapp enables users to instantly generate quotes and book equipments, and to centralize and follow their rental expenses per project.
More details here : https://tracktor.fr
About AXA Venture Partners
AXA Venture Partners (AVP) is an international venture capital firm, investing in tech companies with high growth. AVP built in less than 5 years a unique investment platform with more than €1bn of assets under management across 3 investment expertise: early stage, growth stage and fund of fund. To this date, AVP invested in more than 50 companies and 25 funds. The AVP team operates worldwide with offices in San Francisco, New York, London, Paris and Singapore. Additionally, to financing, AVP offers unique business opportunities to its companies, enabling its portfolio to expand worldwide and accelerate their growth.