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Insight increases capital of subsidiary Fleet Leasing to 1.8 billion rubles

Insight Investments contributed ₽700 million to its subsidiary leasing company LLC Fleet Auto Leasing in Q1 2024. The funds are intended to increase the company's capital, which now stands at ₽1.8 billion.


The investment was made with the group's own funds.


Insight Investments takes an active role in asset development by participating in management bodies, facilitating market financing, and providing funds for development as needed.


«In 2023, the car leasing market demonstrated explosive growth against the backdrop of deferred and still not fully satisfied demand for cars. We considered it necessary to support the development of Fleet Leasing's business in order to expand its capabilities for attracting funds from banks: this will allow us to even more actively acquire vehicles for the company's clients,» said Mikhail Gonopolsky, Managing Director of Insight.


In 2023, Fleet Auto Leasing increased its new business volumes by 54% compared to 2022, reaching ₽2.31 billion. These results were made possible by the expansion of presence segments, the number of brands and suppliers, and the launch of commercial vehicle financing. Additionally, last year the company began financing used cars and introduced an automated service for quoting and issuing insurance policies. The leasing portfolio of Fleet Leasing amounted to ₽2.38 billion at the end of 2023 (according to IFRS data). The company entered the Insight perimeter in August 2023.

 

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