Lendable is pleased to announce the completion of a €40 million debt facility with ennoo Rental (eR), a subsidiary of SafeDriver Group (SDG), all parties advised exclusively by TBFL. This transaction represents Lendable's first investment in Europe, reflecting the firm's strategic expansion beyond its emerging markets heritage and its conviction that its disciplined, impact-oriented credit approach can be applied globally.
With European ride-hailing revenues projected to grow significantly over the coming years, ennoo Rental addresses a key constraint in the ecosystem: limited access to flexible rental fleets for small and medium-sized enterprises (SMEs) seeking to scale their vehicle operations. In Germany, fleet operators play a critical role in supplying drivers to ride-hailing platforms, yet often face challenges in obtaining the vehicles needed.
ennoo Rental provides full-service fleet rental solutions that enable SME operators to grow sustainably while supporting the continued expansion of ride-hailing services, allowing them to generate revenues without having to invest in assets.
Lendable’s €40 million facility will support the continued expansion of ennoo Rental’s fleet, with a focus on electric and hybrid vehicles. The facility is supported by a robust collateral structure, including underlying vehicle assets and visibility on contracted cash flows.
Suresh Samuel, Managing Director and Head of Fintech Investments at Lendable, comments on the investment: “This investment reflects exactly what we look for at Lendable: the opportunity to provide structured financing that enables underserved SMEs to grow their operations and scale sustainably. Through ennoo Rental, capital is being deployed to power Germany’s ride-hailing ecosystem.
The strength of SDG’s position in Germany, combined with a robust collateral framework and clear visibility on cash flows, creates a compelling foundation for disciplined growth. We are excited to support a platform that is both highly scalable and aligned with our impact objectives, including expanding financial inclusion and accelerating the transition to lower-emission urban mobility.”
Gregory Steinschek, Managing Director at ennoo Rental, comments on the transaction: “This facility marks an important milestone for ennoo Rental and, more importantly, for the thousands of fleet operators across Germany who are looking to grow.
We built ennoo Rental with a simple goal: to give fleet operators fast, flexible access to vehicles without the complexity and rigidity, enabling smooth operations through our tailored fleet services, including digital fleet management tools.
With this new facility, we are significantly increasing our capacity to support operators with electric and hybrid vehicles, helping them grow their businesses while improving unit economics and meeting evolving platform and regulatory requirements.”
Giacomo Diana, Managing Partner at TBFL, comments on the transaction: “We are proud to have advised the SafeDriver Group on securing this landmark facility with Lendable, marking not only a pivotal step in ennoo Rental’s growth but also Lendable’s first investment in Europe, a clear validation of the scalability of asset-backed financing models in Europe despite recent headlines.
This transaction highlights the increasing appetite among global credit investors for well-structured, cash-flow visible opportunities in sectors underserved by traditional banks. By combining robust collateral frameworks with strong operational platforms, we are able to bridge the gap between institutional capital and high-growth SMEs.
At TBFL, we focus on unlocking tailored financing solutions for companies operating in complex or overlooked segments, and this deal exemplifies our ability to structure and execute cross-border transactions that meet both borrower and lender objectives. We see momentum building in this space and look forward to supporting more companies and investors in deploying capital efficiently across Europe.”
To learn more about Lendable’s work, visit lendable.io
For more information on ennoo Rental safedriver.de/en/ennoo-rental
To contact TBFL visit www.tbfl.io or message Giacomo Diana