Ooodles

The company's business model is centered on a Device-as-a-Service (DaaS) or pay-as-you-go subscription framework, which blends the characteristics of leasing and purchasing. This allows businesses to rent high-end laptops, phones, and other IT equipment on a flexible monthly basis, preserving capital for other core operations. Ooodles generates revenue through these customizable subscription plans, which start from as low as £3 per month. The company has demonstrated strong unit economics and projected a positive cash flow plan by its third year.

Ooodles' core offering is its proprietary, AI-powered platform, Ooodles OS, which serves as a centralized hub for clients to manage the entire IT lifecycle. Through this platform, businesses can buy or lease both new and refurbished devices, manage credit approvals, track inventory, handle upgrades, and arrange for repairs, returns, or device buy-outs at the end of a lease term. The service provides access to over 10,000 pre-configurable products with next-day delivery. This model supports the circular economy by extending the life of devices through refurbishment and reuse, helping to reduce e-waste. As a licensed fintech, Ooodles manages its operations, including credit lines, independently of third-party platforms.

Since its inception, Ooodles has achieved significant milestones, including securing a £9.8 million investment from Smart Lenders Asset Management and a subsequent $2.7 million (£2m) funding extension led by āltitude VC. These funds have supported the development of its Ooodles OS platform and facilitated its first international expansion into Ireland in late 2024. The company serves over 220 SMEs and boasts a high customer retention rate of 96%. Ooodles aims to be fully carbon-neutral by 2026. Keywords: IT procurement, device-as-a-service, hardware leasing, SME technology, tech rental, circular economy, IT lifecycle management, asset financing, equipment subscription, fintech, Leonardo Poggiali, Kannan Reghu, Ooodles OS, pay-as-you-go IT, laptop rental, business hardware, IT for startups, flexible IT solutions, tech asset management, refurbished devices, hardware-as-a-service, IT financing, sustainable tech