Sevan Marian
- Co-Founder & CEO at Fleet
GetLatka interview
How Fleet Reached Almost €40M Revenue and Nearly €10M EBITDA (Interview with Co-Founder & CEO Sevan Marian)
Sevan Marian (Co-Founder & CEO of Fleet) spoke to Nathan Latka on July 17, 2026.
Fleet figures from the interview
- Revenue (Annualized)
- About €40M
- Revenue at LBO
- About €30M
- Valuation
- €100M
- EBITDA
- About €10M
- EBITDA Margin (reported Jul 2026)
- 25%
“We did the LBO, so we get some capital, but it's only secondary. So me and my co founder, we sold shares, but we didn't bring money inside the company because since the beginning we are profitable and we do almost like not far from 10,000,000 EBITDA per year. So the company doesn't need outside capital.”
“Went from 0 to 40,000,000 revenue from one country, France, to 20 countries today in Europe, but also in the US.”
“First year, we did 1.5 revenue. Second year, we we did three. So we went from three to eight in 2021. So it was post COVID, you know, you remember post COVID, it was almost a bubble now in the ecosystem.”
Bio
Sevan Marian is the Co-Founder and CEO of Fleet, a Paris-based IT device management and procurement platform. He met his co-founder Alexandre at Rocket Internet in 2012, where they worked together to launch Jumia, a pan-African e-commerce marketplace now listed on the New York Stock Exchange. After returning to Europe, Marian held managing director roles at various startups before co-founding Fleet in 2019. Marian bootstrapped Fleet for seven years alongside Alexandre, growing the company from €1.5 million in first-year revenue to nearly €40 million annualized by early 2026 without taking any primary outside capital. In February 2026, he led a €40 million LBO at a €100 million valuation, a fully secondary transaction allowing all employees to cash out 100% of their vested equity. The deal included approximately €25 30 million in equity (investors acquiring roughly 25% of the company) and €50 million in bank debt. Fleet now operates across 20 countries in Europe and the US, manages over 50,000 devices, and generates close to €10 million in annual EBITDA at margins of approximately 25%. Marian remains CEO post-LBO and has established a new 5% ESOP pool targeting a €300 500 million valuation over the next five years.