Circularity Capital invests in Lendis®

Circularity Capital has continued to build its portfolio of European growth stage businesses enabling the circular economy, by co-leading a €30 million Series A growth capital round in Lendis®. Lendis® has also raised €50 million in debt, contributing to a €80 million financing round in total.

The German-based business specialises in hybrid work equipment solutions, such as modular furniture and electronic devices, supplied on a rental basis. Delivered through its proprietary in-house workplace management software, Lendis® enables customers to take responsibility for their workforce’s equipment – both at the office and remotely. Lendis® enables the usage of equipment across multiple life cycles and develops its own modular furniture solutions, which are designed to last in a subscription-based business model.

In result, the useful life of each item is prolonged and manufacturing of new equipment is effectively displaced – which could otherwise have ended up in landfill. In addition, its workplace management software delivers a more cost-efficient way to manage a company’s essential assets and further increases

utilisation.

Circularity Capital will play a driving role in supporting the Lendis® management team, as the company further accelerates its international expansion. Andrew Shannon, founding partner at Circularity Capital, has joined the board.

Andrew Shannon commented: “We are excited to back the management of Lendis® with a €7 million investment. The company delivers a market-leading solution and benefits from a growing demand in hybrid working. Our investment supports the company’s ambitious global growth strategy and will help to position the company as the world’s leading provider of circular hybrid workplace management solutions.”

Stavros Papadopoulos, Co-Founder of Lendis® added: “Lendis® has set the benchmark in convenience for a hybrid workplace environment and reinvented the approach to workplace management. As a result, we’ve grown our loyal customer base across Europe, who benefit from a flexible and sustainable solution for their ever-changing requirements.

“We’re proud to provide an exceptional customer experience and enable our customers to take complete control of their workplace equipment. We’re excited to welcome Circularity Capital as an investor in Lendis® - the team shares our common mission and values to enable hybrid workplace solutions, while providing the specialist expertise in the circular economy needed to sustainably support our pan-European expansion."