Flexcavo to raise €6.4 million in a round led by VR Ventures in association with Redstone.

Flexcavo, a Rosenheim (Munich) and Berlin, Germany-based company operating a marketplace for machinery used in construction, announced raising €6.4 million ($7.4M).

The money was raised from investors led by VR Ventures in association with Redstone. Existing investor Picus Capital as well as Rivus Ventures and FJ Labs joined as well, together with business angels Felix Jahn, Max-Josef Meier, Florian Huber, Florian Seubert and the Alasco founders.

The new capital is to flow primarily into the expansion of the team, the further development of the software and the Germany-wide expansion of the network for construction machinery rental.

Flexcavo, founded in 2020 by Leonhard Fricke and Benedict Aicher, developed a B2B platform used for renting construction machinery. The tool - the SaaS operating system FlexcavoOS - serves as a uniform platform for the central administration and control of machine fleets, as well as digital construction site and cost documentation. With the help of the software solution, Flexcavo achieves an increase in productivity for construction companies by reducing both economic and ecological costs along the entire construction machine life cycle.

Flexcavo previously raised money in 2020.