21 Nov 23

Sofico to boost growth in mobility following new investment from Astorg

Automotive finance, leasing, and fleet software provider Sofico has announced a new strategic partnership with global private equity firm Astorg, including its current financial partner Apheon.

A leading Sofware-as-a-Service (SaaS) provider for the automotive, leasing and fleet industries, Sofico added momentum to its continuous growth by announcing a partnership with Astorg, a leading Pan-European private equity company. The new partnership will support Sofico’s long-term development strategy focused on sustainable growth. 

Sofico continued its rapid growth this year, expanding operations in the UK by increasing its customer base and opening a new satellite office to support growing services. Sofico entered the North American market in April, establishing the first office in Dallas, Texas. To adapt the cloud-native Miles Enterprise platform to the new market, Sofico follows a diligent process, including smart integrations with market reference vendors and service providers and specific functionalities, such as Sales Tax, a unique feature in the United States. 

Sofico is ambitious to discover opportunities in the automotive finance, leasing, fleet, and mobility industry, as the partnership with Astorg aims to sustain long-term growth, support the growth of the dedicated workforce and bring deep software expertise.

Astorg will provide a strong financial partner as Sofico increases its focus on innovation and product development to meet growing demands through electrification and shared fleets. 

“The interest shown by a renowned company like Astorg in Sofico is a testament to our drive for excellence, our adherence to strong company values and the pivotal role of our passionate people. Over the years, the trust and continued support of our customers have been integral to our success, and our dedication remains in providing them with superior products and services,” Gémar Hompes, CEO at Sofico, said. 

Sofico, Apheon and Astorg aim to ‘turbocharge product development’, enhance service offerings across regions, amplify business outreach, and tap into uncharted customer segments and markets. 

The main image is courtesy of Shutterstock,1600196551.

Authored by: Mufit Yilmaz Gokmen