Kreos Capital Finances $10MM in Debt Funding for Xyte’s Equipment Financing Program
OCT 27, 2022 - 7:16 am
Kreos Capital financed $10 million in debt funding for Xyte, a company specializing in Connected Device Management Platform (CDMP), to meet Xyte’s customers’ growing demand for flexible equipment financing solutions.
The partnership between Xyte and Kreos provides manufacturers with financing options that will enable them to shift from CapEx to OpEx, kick-start the transition to flexible as-a-Service business models and achieve their financial and strategic ambitions in this area.
“Recent years have seen a fundamental change in the way companies are doing business. Customer expectations for new digital experiences are higher than ever before and cloud adoption has truly emerged as a catalyst in driving business transformation across all industries,” Omer Brookstein, CEO and co-founder of Xyte, said. “Our equipment financing program is a great opportunity for hardware manufacturers to capitalize on these trends by developing new subscription-based business models that enable repeat, predictable revenue streams and foster long-term, sustainable customer relationships.”
“We’re proud to partner with Xyte as they deliver on their vision to bring in the new era of technological and business innovation for hardware manufacturers,” Uri Galai, partner at Kreos Capital, said. “Xyte stood out for us in its ability to create tremendous new growth opportunities across the entire manufacturing ecosystem, and we look forward to actively shaping the fast-growing IoT market.”
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