FITTLE and Velo3D Begin New Financing Partnership for Metal Additive Manufacturing Solutions17 January 2023
NORWALK, Conn., January 17, 2023, — FITTLE, the equipment financing business of Xerox Holdings Corporation (NASDAQ: XRX), today announced a strategic partnership with Velo3D, Inc. (NYSE: VLD) to help Velo3D customers finance purchases of the company’s fully integrated metal additive manufacturing solution.
“Velo3D is experiencing impressive growth and increased demand, well on its way to becoming one of the largest metal additive manufacturing companies in the world,” said Nicole Torraco, President, FITTLE. “We look forward to supporting this growth as we provide new financing structures for their customers across various global markets.”
Breathing new life into a previously stagnant metal additive manufacturing industry, Velo3D created an innovative end-to-end process that enables customers in aviation, power generation, energy and semiconductor industries to better design and print the parts they need. Through this new partnership with FITTLE, the company will provide its customers with more options for acquiring its Sapphire family of printers.
“As we continue building upon our significant year-over-year growth, our focus is on ensuring all potential customers have access to our industry-leading solutions,” said William McCombe, Chief Financial Officer, Velo3D. “FITTLE will make our solutions more accessible to customers so they can focus on creating mission-critical metal parts for their companies.”
The equipment financing business of Xerox Holdings Corporation, rebranded FITTLE in 2022, is a leading provider of innovative business financing and payment solutions to help businesses adapt and grow. We offer dealer and vendor financing programs for a range of offerings including IT Services, software, audiovisual and security hardware, 3D printing equipment and other business technologies. FITTLE enables innovation and growth through value-add solutions such as bundled billing for support, supplies and maintenance. We currently serve over 150,000 customers in 18 countries, in addition to managing more than 700,000 leases, and drive solutions for more than 1,000 dealers and network partners around the world. Learn more at FITTLE.com.
Velo3D is a metal 3D printing technology company. 3D printing—also known as additive manufacturing (AM)—has a unique ability to improve the way high-value metal parts are built. However, legacy metal AM has been greatly limited in its capabilities since its invention almost 30 years ago. This has prevented the technology from being used to create the most valuable and impactful parts, restricting its use to specific niches where the limitations were acceptable.
Velo3D has overcome these limitations so engineers can design and print the parts they want. The company’s solution unlocks a wide breadth of design freedom and enables customers in space exploration, aviation, power generation, energy and semiconductor to innovate the future in their respective industries. Using Velo3D, these customers can now build mission-critical metal parts that were previously impossible to manufacture. The end-to-end solution includes the Flow print preparation software, the Sapphire family of printers and the Assure quality control system—all of which are powered by Velo3D’s Intelligent Fusion manufacturing process. The company delivered its first Sapphire system in 2018 and has been a strategic partner to innovators such as SpaceX, Honeywell, Honda, Chromalloy and Lam Research. Velo3D has been named to Fast Company’s prestigious annual list of the World’s Most Innovative Companies for 2021. For more information, please visit velo3d.com, or follow the company on LinkedIn or Twitter.