Tracktor, the online equipment rental platform, raised €12 million in a funding round led by AXA Venture Partners, Bpifrance, Kerala Ventures (led by Antoine Freysz), BTP Capital Investissement, and a group of entrepreneurs including Pierre Kosciusko-Morizet, Pierre Krings, Xavier Niel, and Pascal Casanova.
Founded in 2017 by Laura Medji, Julien Mousseau, and Idir Ait Si Amer, Tracktor is a French platform that allows professionals in the construction industry to easily rent equipment. The platform has already attracted over 3,500 companies in the construction and industry sectors, enabling them to rent equipment in just three clicks, regardless of their needs, saving them up to three hours on the management of each rental.
This new funding will allow Tracktor to expand its team and double its workforce by the end of the year. The company also plans to expand to other European countries such as Belgium and the Netherlands.
AXA Venture Partners is a venture capital firm that invests in technology companies worldwide, while Bpifrance is a French investment bank that supports the growth of small and medium-sized businesses. Kerala Ventures is a venture capital firm that invests in early-stage technology startups, while BTP Capital Investissement is an investment fund specializing in the construction and building materials sector. The group of entrepreneurs includes Pierre Kosciusko-Morizet, the founder of PriceMinister, and Xavier Niel, the founder of Free Mobile and a prominent French tech investor.
This latest funding round is a significant milestone for Tracktor and underscores the growing demand for online equipment rental platforms in the construction industry. By simplifying the rental process and saving time for professionals, Tracktor is well-positioned for continued growth and success in the future.