Components and related news
“3-D printing is one of them,” said Daniel Kerr, Fittel’s senior vice president of revenue for the United States. .
Fittle, Xerox Holdings’ equipment finance business, has partnered with metal 3-D printing technology company Velo3D to help Velo3D customers purchase metal fabrication supplies.
Norwalk, Conn.-based Daniel Kehr, senior vice president of U.S. revenue, said. based company is looking to expand its portfolio of offerings outside the traditional copy and print realm into growing industries.
“3-D printing was one of them,” he told CRN. “I’ve heard a little bit about Velo before, and they’re very enthusiastic in the 3-D manufacturing space. So two conversations [were had] And one thing led to another and it made sense.
Campbell, Calif.-based Velo3D creates end-to-end innovation that enables customers in the aviation, power generation, energy and semiconductor industries to better design and print the parts they need.
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“By partnering with Fittel on this new financing option for our customers, we expect our additive manufacturing technology to make the capital cost of one of our Sapphire printers more accessible to those in need of financing,” Benny Buller, founder and CEO of Velo3D, told CRN in an email. “Having this as a built-in option gives us more flexibility in our sales process and our customers’ ability to purchase financing.”
With this new financing option, Buller says, contract manufacturers can reduce their upfront investment, increase returns and pay off the cost of the machine when they deliver finished parts to their customers.
Fittle’s Kehr says adding another 3D printing partnership shows its clients that it’s no longer just a print finance company.
“We’ve moved in the direction of trying to be a technology financing company,” he said. “That said, if the technology is there, we want to cut across the street, make it different, and make it affordable for their core customers.
He added: “For our previous channel partners, everyone had to go through the pandemic and actually sell different products and services. “The idea that Fittle and Xerox Financial Services can do more than copy and print and lease finance and adjacent technology as part of a bundled solution is a win-win for everyone.”
As Fittle gets more comfortable in the 3-D printing financing space and builds its partner network, it looks to add more partnerships to the stack.
“When you dive deeper into the 3-D space, there are a lot of different applications that this can be used for,” he said. “There’s a whole lot of different parts to it, so we’re going to dip your toe in here because it’s an industry that makes sense to us.”