SEB Injects Capital into Asset-as-a-Service Platform Leneo

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Swedish bank SEB is buying a stake in Leneo, a tech firm that helps companies shift to 'circular business models'. Terms of the deal were not disclosed.

Danish firm Leneo specialises in Asset-as-a-Service, developing a platform that helps manufacturing companies shift from selling machinery, equipment or other products to instead offer them as a service.
This model sees the product and related services offered to customers, which are charged for how they are used and what value they create.

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In addition to the investment, SEB and Leneo have agreed to refer customers to each other.
Fredrik Ljungblad, SEB Venture Capital Fintech, says: "End customers want a higher degree of financial flexibility by going from fixed asset ownership, with all that entails, to more the problem-free operations offered by a usage-based model.
"We are convinced that this trend will accelerate and see that Leneo’s platform and expertise in the area are well-suited to be able to cover the segment in a very good way, which makes this investment extra exciting over the long term."

(Source: Finextra)