3stepIT enters SMB sector with LeaseCloud acquisition

The merger comes shortly after the reseller’s NORAM expansion

Circular technology services provider 3stepIT has expanded its offering to SMBs for the first time by acquiring Swedish platform provider LeaseCloud.

The reseller’s circular technology lifecycle management model was only available to medium and large enterprises until now.

3stepIT’s partners will now be able to streamline credit decisions and reduce administrative for their SMB clients.

By expanding its circularity services to small businesses, 3stepIT intends to make them more financially efficient by extending the life of tech assets and optimising resource use, make tech management easier by simplifying the technology lifecycle, enhance security, and boost sustainability by reducing electronic waste.

Launched in 2016, Stockholm-based LeaseCloud provides SMBs with access to leasing as a payment method for B2B e-commerce.

This acquisition will expand the fintech’s operations beyond Sweden and Norway, adding Denmark and Finland, where 3stepIT already operates.

“Over 4.6 million people” in the Nordics are currently employed in SMBs, according to Jakob Lagander, CEO of 3stepIT, in a LinkedIn post.

“While large enterprises often have the resources to implement efficient tech lifecycle solutions, SMBs often face significant challenges accessing end-to-end technology management programmes,” said Lagander.

“By tailoring solutions to their needs, we want to eliminate barriers to circular technology adoption and ensure that organisations of every size can optimise their technology investments.”

Martin Björnström, founder of LeaseCloud, added: “With LeaseCloud, we’ve built a service that makes leasing as easy as buying online - fast, flexible, and hassle-free.

“Now, together with 3stepIT, we can bring this solution to even more businesses across the Nordics.”

The merger comes less than a month after the reseller announced its entry into the NORAM market through its new Texas headquarters, as well as the launch of its datacentre lifecycle services division.

This represents the first acquisition from the reseller in almost a decade, after its buyout of Norwegian company ITmove in September 2015.