Fleet announced it has reached a €100 million valuation and is opening its capital for the first time through a leveraged buyout transaction alongside ISAI Expansion, marking a shift from years of fully self-funded expansion to a new phase backed by an institutional partner.
Founder Alexandre Berriche framed the move as an evolution rather than a strategic reset, emphasizing that the company’s disciplined, profitability-first approach remains intact. In a LinkedIn post announcing the milestone, he said Fleet grew for seven years without venture rounds, “no headlines” and “no shortcuts,” scaling steadily “country by country, customer by customer.”
Fleet has built its business around simplifying IT lifecycle management for small and mid-sized enterprises, spanning device procurement, fleet administration, and security, with an operational footprint that has expanded across Europe and into the U.S., according to reporting on the transaction. The company has positioned its platform as an end-to-end system to help SMEs manage distributed equipment needs, including international delivery and ongoing device governance.
Berriche also described a leadership transition that has been unfolding in parallel with the capital opening. He said he moved from CEO to executive chairman last year and is now chairman of the board, while continuing to support the leadership team and guide long-term strategy. He referenced his cofounder, Sevan Marian, and said the transition is intended to create space for him to pursue new entrepreneurial work while maintaining stewardship of Fleet’s direction.
