Daimler takes stake in FleetMaster

Daimler Financial Services has acquired a minority stake in FleetMaster, a Belgian company that develops software for rental and leasing companies.

Both companies have agreed not to disclose the purchase price.

Frederik De Witte, one of FleetMaster’s co-founders, said: “With the strategic investment of Daimler we are enabling the further global expansion of our technology platform that supports the core back-end processes of major rental and lease companies, OEMs, dealers, automotive banks and alike. We are delighted to welcome Daimler as a partner backing the company in our fast-developing scale-up phase.”

He added: “The minority investment along with the current diverse customer portfolio of leading companies in our target markets underpins our claim to brand neutrality.” 

Hans Moertl, Head of IT, Daimler Financial Services, said: “With FleetMaster we have found a partner with a deep IT knowledge combined with an excellent experience in the rental business and the management of fleets. This partnership will allow us to extend the MB Rent business of Daimler Financial Services in Germany by creating a seamless customer experience. It will also strengthen our European Athlon Rent business for multi brand fleets.” 

FleetMaster, with offices in Ghent (Belgium) and Los Angeles (US) was founded in 2011 and builds software on a global scale targeted at companies in the asset rental and leasing industry. FleetMaster offers a cloud-based, highly customisable software application that enables companies to manage and optimise their fleet and assets.