“Our fastest investment ever!”
The Fleetx team says we were the quickest VC they had ever engaged with or heard of. Moving from the pitch discussion to agreeing to investment in a matter of hours. Our speedy decision was promoted by the founder’s ability to ask burning questions, in-depth market knowledge and great company trajectory at fantastic capital efficiency.
16 June, 2020
My initial encounter with Fleetx didn’t exactly go off on a rocking start. One of our local Indian co- investor friends first brought his portfolio company to my notice in August 2019. At the time, I felt it was a potential conflict with another portfolio investment and chose not to actively engage at the time. And so, the Fleetx conversation soon ended.
As fate would have it the conversation about Fleetx came up again in October 2019 when Hero – our first new incoming investment partner since 2015 – insisted we take a second look. This triggered off multiple thoughts and conversations within BEENEXT which led to the first in person engagement.
I decided on the first call with Vineet Sharma, the Founder & CEO, to proceed to invest. Vineet’s subject matter expertise and ability to not just ask really insightful questions but to also take control of the conversation impressed me. The team’s genuineness, compatible craftsmanship and the fact that they had worked together for almost a decade were other great signals for me.
We led and closed our USD2.5mn pre-A round investment in November 2019. Fast forward seven months, Fleetx is on a great growth trajectory. Despite being in an industry that isn’t as digitized compared to others, the founding team continues to prove themselves day by day.
There is always cross-pollination of learning that happens at BEENEXT and our partnership with Fleetx is no different. We strongly identify with the company’s consistent ability to make deeper inroads into the market and data-driven decision-making skills.