Belgium LIZY Raises €75M To Scale Circular Electric Leasing

Once the contract ended, the vehicle was resold, as a second leasing phase was not deemed profitable enough.

LIZY took a unique approach by focusing on the potential of used leasing, especially for smaller businesses. This strategy has helped the company build a strong reputation as an affordable and reliable leasing partner, offering high-quality service.

As electric vehicles (EVs) gain popularity, the leasing industry is gradually adopting LIZY’s model. The traditional "one and done" leasing approach doesn’t work for EVs, as they last longer and require less maintenance than combustion engine cars, making them suitable for second or even third leasing cycles. Accelerated electrification has, therefore, provided the perfect opportunity for LIZY to scale its operations.

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Founded in 2019 LIZY quickly gained traction in Belgium and expanded into France and the Netherlands. In just two years, the company doubled its workforce to 60 employees and saw a 100% increase in revenue by 2024.

LIZY’s funding comes from existing investors, including D'Ieteren, Alychlo (Marc Coucke’s investment vehicle), and NewAlpha Asset Management, totaling €10 million in capital and €65 million in debt financing.

"For LIZY, used car leasing has been a no-brainer for years," explains CEO Sam Heymans."Electrification is central to our approach. Electric vehicles have a longer lifespan and require less maintenance. In addition, the environmental benefits increase as the vehicles are used for longer. Thanks to this new investment, we can now roll out our concept even faster internationally."

LIZY has always had clear, ambitious plans and an original positioning," says Marc Coucke, founder of Alychlo.

"The company is now seeing its efforts rewarded with strong growth and can ride the wave of electrification. All this is the result of its ambitious vision and determination. For Alychlo, investing in LIZY is perfectly in line with our objectives: it is Belgian, sustainable, ambitious and innovative."

"Electric mobility is clearly the future, but for small businesses, new electric vehicles still represent a significant investment," says Denis Gorteman, CEO of investor D'Ieteren.

"LIZY's used car formula makes electric leasing accessible to more customers, thereby accelerating the transition to electric fleets within companies. As a large proportion of the kilometres travelled on our roads are for business purposes, this accelerated transition has an additional positive impact on the environment."

According to Heymans, the capital will enable LIZY to expand its circular approach, providing businesses across Europe with access to high-quality, affordable, and sustainable mobility solutions on a larger scale.

About LIZY

LIZY offers hassle-free leasing for SMEs and professionals. Simply order online and have your vehicle delivered within 3 weeks. They are reinventing leasing with fast affordable solutions, specializing in second-hand vehicles. Trusted as the number one choice for cost-effective sustainable leasing options for businesses.