Superangel invests in Estonian fleet management software developer FleetGuru
Estonian startup FleetGuru, which develops fleet management software, raised 530,000 euros in their recent funding round to further develop the product and expand into foreign markets.
Several reputable investors, including the founders of Superangel, Lemonade Stand, Silberauto and Sixfold, invested in the company.
Veljo Otsason, partner of Superangel which invested 150 000 euros in the company, noted that FleetGuru has a powerful potential to bring about a real revolution in fleet management. “The FleetGuru team consists of industry professionals who have been able to bring the product to market in just a few months and sign the first customer contracts to track hundreds of vehicles. Superangel invests in companies with strong founders and we were impressed by Indrek, Toomas and Ivar’s customer-centric approach and ability to implement projects,” Otsason acknowledged.
The founders of FleetGuru are Toomas Loik and Ivar Vilmer with long-term experience in selling fleet management solutions, and Indrek Siitan, who has led the development of several start-ups in the insurance field.
Cloud-based fleet management software is a tool that gives companies a comprehensive view of vehicle-related costs and problems. “Many companies still use Excel spreadsheets to manage their fleets, which does not allow them to get all the information in real time. FleetGuru’s solution is interfaced with several different databases, such as larger insurance companies, filling station chains and car registers – so the fleet manager receives all the necessary information about the validity of insurance contracts, the use of fuel cards and vehicle-related documentation,” explained Loik.
Superangel was advised on the investment by Ellex team in Estonia which was led by Counsel Antti Perli and included Senior Associate Hanna Pahk, Associate Merlin Liis-Toomela and Lawyer Priit Pruks.