Fleequid Revolutionizes the Bus Resale Market
Introduction to Fleequid
Olgiate Comasco-based Fleequid, the pioneering online marketplace for buying and selling used buses, has successfully raised €3 million in Seed funding. This investment will be utilized to expand its operations across Europe, enhance its team, and improve its auction platform. The funding round was led by Amsterdam-based DFF Ventures, with participation from notable investors including Silence VC, FJ Labs, and angel investor Jack Greco, Co-founder of ACV Auctions.
The Vision Behind Fleequid
Fleequid was founded in 2024 by brothers Filippo and Federico Battaglia, with the mission to address the inefficiencies in the commercial vehicle market for passenger transportation. The founders aim to provide simplicity, speed, and transparency in the process of buying and selling buses. According to Filippo Battaglia, "We’ve been in this world for 13 years. We know the players, we know the pain points, and we know how much value is lost in the current system. We built Fleequid to change that."
The Bus Resale Market: An Overview
The bus resale market in Europe is substantial, with over 100,000 buses changing hands every year. However, the process remains slow, fragmented, and predominantly offline. Buses typically start in Northern Europe and move south, changing owners three to four times during their lifespan. Countries with strong tourism sectors and large rural areas, such as Italy, Poland, Germany, and Spain, rely heavily on these vehicles.
The Problem Fleequid Solves
Most bus owners face difficulties in selling their vehicles due to the lack of a straightforward and trustworthy process. They often rely on brokers, who operate in an opaque system with hidden mark-ups. Fleequid replaces this outdated system with a single platform where sellers can list their vehicles and buyers can participate in open online auctions. Each bus is accompanied by a comprehensive dossier, including photos, videos, condition reports, and technical inspections, all verified by Fleequid’s team.
How Fleequid Works
Once a deal is made, Fleequid handles the entire transaction, from payment to ownership transfer and transport. This streamlined process has already shown promising results, with hundreds of buses sold in the platform’s first months. Buyers from various countries, including Ghana, Romania, Iraq, and core EU markets such as Italy, Poland, and Bulgaria, have placed bids.
Investor Insight
Maarten Engelen, Partner at DFF, expressed his enthusiasm for Fleequid, stating, "We look for sharp founders tackling big problems in under-digitised markets. The Battaglia brothers are insiders who’ve decided to disrupt their own industry, and they’ve done it with the kind of execution and grit we love to back. Fleequid is not just a better way to trade buses. It’s the start of a new operating system for the entire sector."
Future Plans
With the newly acquired funding, Fleequid plans to accelerate its expansion across Europe and further develop its technology. The goal is to enable companies to trade buses with the same ease and speed as clicking ‘buy now.’ This innovation has the potential to revolutionize the bus resale market, providing a more efficient, transparent, and trustworthy experience for all parties involved.
Conclusion
Fleequid’s successful Seed funding and innovative approach to the bus resale market mark the beginning of a new era in the industry. By addressing the long-standing issues of inefficiency and opacity, Fleequid is poised to make a significant impact on the commercial vehicle market for passenger transportation. As the company continues to grow and expand, it will be exciting to see the positive changes it brings to the sector.
