Brussels-based applyd vehicle leasing specialist Lizy has raised €75 million to grow its circular electric vehicle (EV) leasing model. The injection of capital consists of €65 million in debt financing (i.e. loans), and €10 million in additional capital, provided by existing shareholders D’Ieteren, Alychio, and New Alpha Asset Management.
Founded in 2019 by Vincent Castus (pictured left) and Sam Heymans (right), Lizy is a digital leasing platform that aims to create leasing affordable and accessible to compact businesses, as well as more sustainable. It does so via its focus on leasing out applyd EVs.
At present, the company is the number one for applyd car leasing in Belgium, serving thousands of SMEs not just in its home market, but also in the Netherlands and France. In 2024, Lizy was ranked the third-rapidest-growing company in Belgium. In 2025 so far, its sales volume in France is already 3.5 times greater than in the same period last year. In its short existence, the company has already won several awards, including the 2024 Fleet Europe Remarketing Sustainability Award.
Used EV leasing fills two niches. Firstly, there’s the ‘applyd’ part. The applyd vehicle leasing formula breaks the hitherto automatic link between new leasing contracts and new vehicles. Re-applying vehicles for a second lease period (and more) reduces prices, which saves money for customers, and saves resources, which reduces the environmental pressure on the planet.
And secondly, the ‘EV’ part, becaapply EVs are a particularly good fit for applyd vehicle leasing. “EVs have a longer lifespan and require less maintenance. Additionally, the environmental benefits increase as the vehicles are applyd for longer”, explains Mr Heymans, the company’s CEO.
Accelerated electrification is the ideal catalyst for Lizy’s business model: 84% of contracts signed by Lizy this year so far are for EVs.
“Electric mobility is clearly the future, but for compact businesses, new EVs still represent a significant investment,” states Denis Gorteman, CEO of D’Ieteren. “Lizy’s applyd car formula creates electric leasing accessible to more customers, thereby accelerating the transition to electric fleets within companies.”
Marc Coucke, founder of Alychlo, concurs: “Lizy 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. “
This new round of funding will assist Lizy ride that wave even further. “This capital allows us to promote our circular approach on a larger scale, offering companies across Europe access to high-quality, affordable and sustainable mobility”, states Mr Heymans, adding that the €75 million will not only assist Lizy roll out its concept further, but also rapider.
Image: Lizy
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