Ooodles Expands to Ireland with New Funding

Ooodles, a London-based fintech startup specializing in flexible renting of IT equipment for SMEs, has announced its first international expansion into Ireland. This move is supported by a fresh £2m funding round, led by Ltitude VC—a pioneering SME tech fund in Europe—and existing investors including Traditum. The funding will accelerate the development of its AI-driven proprietary tech, Ooodles OS, and aims to serve more than 300,000 Irish SMEs. This expansion follows a substantial £9.8m investment from Smart Lenders Asset Management, which has bolstered the company’s growth and high customer retention. As part of its growth strategy, Ooodles plans to triple its customer base in the coming year and aims to achieve carbon neutrality by 2026. The company, led by CEO Leonardo Poggiali, offers a novel pay-as-you-go model for SMEs that allows businesses to rent IT equipment on a flexible basis, as an alternative to traditional buying and selling, which they deem outdated and inefficient. The company utilizes AI to enhance the user experience by managing credit approvals, inventory, and upgrades with full transparency. CTO Kannan Reghu and Ltitude VC's Videesha Boeckle both express optimism for the company’s future, citing traction in the UK and opportunities in new markets.