Renting instead of buying laptops
“So instead of buying a computer for €2,000 you will rent a computer for €50 per month.”
Founder conversationMaster $20m+
How Fleet Bootstrapped to $40M Renting Laptops Before a $100M Valuation Secondary
Fleet CEO Sevan Marian explains how renting laptops on 36-month contracts and selling them to a bank funded profitable growth without outside capital.
Sevan Marian · Fleet
Published September 24, 2026About this resource
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What you’ll learn
Sevan Marian, co-founder and CEO of Paris-based Fleet, explains how the company rents laptops and other IT devices to startups and SMBs on 24 or 36 month contracts. He covers how Fleet bootstrapped to almost $40M in annualized revenue while profitable, a secondary round at a $100M valuation that let employees and founders cash out, and how selling rental contracts to a bank keeps the model asset light.
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Cash flow positive without outside funding
“we were both profitable but we were also cash flow positive. That is very important because when you don't need working capital to grow then you can grow without external funding.”
Surviving the 2023 hiring downturn
“I think the hiring in the ecosystem decreased by 70%, which is huge. In this very bad market, we did only minus 15%.”
Letting every employee cash out
“What makes sense, I think, is to allow everyone to cash out 100%, to make everyone happy, and then the one that stays, you do a new equity plan for the next cycle.”
Selling rental contracts to a bank
“So we buy the computer, but we get the full value of the contract upfront, which allow us to make our margin and our profits from day one.”
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Sevan Marian
Co-founder & CEO · Fleet
- Company revenue
- $40M
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