Certain startup-types have been a little more impervious to market conditions. The global supply chain was one of the major industrial casualties of the pandemic, so it perhaps goes without saying that companies tackling issues related to the global supply chain would remain an alluring proposition for otherwise hesitant venture capitalists.
Topi essentially brings together the various components that a seller might need to offer hardware subscriptions, including insurance, logistics, and refinancing providers, so that merchants can easily build rentals into their existing online channels using Topi’s APIs. Pallua previously worked as a strategy and business development manager at Apple in the San Francisco Bay Area, where she led a team tasked with exploring the feasibility of hardware subscriptions — Apple has yet to launch such a service, but reports continue to surface that the Cupertino company is still looking to bolster its recurring revenue via such subscriptions. Hardware as a service At its most basic level, Topi is selling a hardware-as-a-service business model, allowing merchants to rent out their equipment such as smartphones, printers, PC monitors, coffee machines, robotic arms, or whatever industry-specific machinery in which they specialize. At the time, Topi was somewhat vague in terms of what its actual product would be, but the company today announced its first product in partnership with German electronics retailer Gravis, and unveiled a fresh $45 million in equity and debt financing.
Taxfix as you might suspect prefers to talk about the good news stories around tax filing — it’s easy! and it’s often free money owed to you! — so Ott wasn’t keen to talk about how much money it calculated people owed to the state, but there is an opportunity there too to provide financing and longer-term managing of that financing as a different kind of product.