GRENKE acquires 25 percent of online platform Miete24

Global financing partner for small and medium-sized enterprises, GRENKE AG, has announced an investment in “Miete24 P4Y GmbH” amounting to a 25 percent stake plus one voting share. Through this investment in the internet platform, GRENKE is strengthening its sales infrastructure, particularly in the specialist reseller area, while opening up more options for direct online business with commercial customers.

Dr Sebastian Hirsch, CEO of GRENKE (pictured), commented on the acquisition, saying: “This is a strategically significant investment for us. With Miete24 and its innovative software technology, we will be able to offer a plug-n-lease solution for our resellers’ webshops in the future. This should make financing small investments for our commercial customers as easy as online shopping. This investment fits perfectly into our new digitalisation strategy and is in line with the market’s development. It offers enormous potential as the demand for intelligent financing solutions – whether leasing or renting – instead of purchasing is growing steadily, especially in the small-ticket segment.”

Heino Deubner, Managing Director of Miete24 P4Y GmbH, said: “Product leasing is becoming increasingly popular with both business and retail customers. GRENKE’s entry, with its strong capital base and selling strength, especially in the IT and small-ticket segments, means we can now scale our technology much faster and purposely open up options for both of us to directly market financing to customers – also internationally.”

The purchase price for the stake in Miete24 is in the low single-digit million range. In addition, GRENKE has secured a long-term option for a full takeover. The rollout at GRENKE will take place successively with selected resellers in the months ahead. After the new digital platform has been successfully launched in Germany, it will be implemented internationally as quickly as possible.