KRANK

Krank, the UK-based technology company behind the digital inspection platform Inspeq, has launched a powerful new check-in/check-out feature, purpose-built for equipment rental companies.This smart tool enables fast and accurate documentation of equipment condition before and after each rental, boosting operational efficiency and cutting inspection time by up to 50% compared to traditional manual paperwork. Inspeq helps rental teams ensure faster turnaround times and improved operational accuracy.Simplifying equipment returnsHandling returns can often be messy, especially when condition reports are inconsistent or incomplete. Inspeq’s smart check-in/check-out workflow changes that. Using just a smartphone, rental teams can quickly capture detailed inspection logs, record videos, add voice notes, and generate comprehensive condition reports all from the field. This means more transparency, fewer disputes, and better protection for both rental providers and customers.“With Inspeq’s check-in/check-out feature, rental companies can complete inspection reports in minutes, eliminating stress and reliance on memory or notes,” says Mark Turner, CEO of Krank.“Everything is documented, time-stamped, and accessible in real time through a single, streamlined process that fits in your pocket,” continues Turner.Designed for field use, the latest feature supports rental staff in inspecting equipment before dispatch and upon return, embedding visuals and notes into comprehensive reports that can be shared instantly with repair teams.By completing inspections in half the time of traditional methods, rental companies save time and money while boosting efficiency. Meanwhile, by comparing check-in and check-out reports, users can manually log any equipment damage, with the app then generating detailed discrepancy reports to simplify wear-and-tear inspections, ultimately reducing potential disputes and speeding up repair quotes.Improving rental accountabilityIn a fast-paced rental environment where precision matters, Inspeq’s new check-in/check-out feature delivers a reliable way to enhance transparency and build trust between rental providers and customers. Every inspection is securely logged, creating a clear, time-stamped record of equipment condition before and after every rental.“Inspeq helps rental businesses stay protected and gives customers real peace of mind,” Turner adds. “Having clear, visual records of every inspection makes it easier to keep everyone accountable. Protecting assets is just one benefit of this feature, it also helps teams plan better and get repairs done faster, which is crucial when you’re working in such a fast-moving industry.”Download Inspeq today on the Apple App Store and Google Play and transform your rental inspection workflow. Apple App Store: https://apps.apple.com/fi/app/inspeq/id6503616297Google Play: https://play.google.com/store/apps/details?id=com.krank.inspeq&pcampaignid=web_share

Elebbre’s month-long Krank marketplace tech-powered auction saw a host of records broken, compared to traditional sales channels, including:Seven-fold increase in website traffic, with bidders from over 75 countries.47% of lots sold above their reserve.Double the sales success ratio compared to a traditional auction.Latin American remarketing experts Elebbre’s recent online auction of used mining and construction equipment on behalf of global construction giant Bechtel has been given an enthusiastic vote of approval. The month-long auction – the largest 100% online auction to date in Latin America – was powered by UK SaaS technology company Krank’s marketplace platform. Using the Krank platform allowed Elebbre to manage the entire auction and sale process itself, rather than relying on the support (and associated costs) of third-party auction houses.The auction generated total sales revenues of $2.8 million and drew bidders from over 75 countries. Of the 152 lots put up for sale – which included dump trucks, boom trucks, cranes and excavators – almost half (47%) were sold, roughly double the sales ratio of a traditional auction. Unlike with traditional auctions, even when Elebbre’s 30-day sale was over – that wasn’t the end of proceedings. The use of vital runner up data – information that Elebbre wouldn’t have access to if it had used a traditional auction house – allowed it to sell a further 24 machines. ‘The Krank platform exceeded expectations. The auction performance was excellent and helped to maximize the value of our used equipment.’“In the past we used traditional methods, including third party auctions and direct sales for disposals of this kind,” said Elebbre’s Co-Founder and General Manager, Moisés Nunez. “But for a range of reasons – including cost, lack of sale data provided by third party auctions and the carbon footprint of moving machines to auction sites, we decided to take a different approach.”Streamlined processes“For this sale we were attracted to Krank's reputation of providing cutting-edge and efficient platforms for equipment disposal,” Nunez continues. “We expected Krank's platform to enhance our selling process by providing a user-friendly interface, and it did attract a broader range of buyers. In fact, the Krank platform exceeded our expectations. The auction performance was excellent and helped to maximize the value of our used equipment.”Benefits for both buyer and sellerFeedback from bidders was overwhelmingly positive. The user-friendly interface and transparent processes on Elebbre’s Krank-powered platform were both cited as making it easier for bidders to participate in the auction. From Elebbre’s perspective, the buyer data it captured is proving to be valuable for understanding market trends and buyer behavior, information it can leverage in future equipment transactions.Cost savings ‘substantial’“With no auctioneer fees to absorb, the cost savings are substantial compared to traditional methods,” continues Nunez. “Krank's auction platform also eliminated the need and associated costs of transporting equipment to physical auction sites. This contributed to a significantly reduced carbon footprint compared to traditional auctions.”Valuable equipment disposal tool“Our overall impression of using the Krank marketplace platform to sell equipment has been overwhelmingly positive,” concluded Nunez. “Its effectiveness, user satisfaction and the financial benefits it offers make it an invaluable tool for our equipment disposal needs.”Elebbre is now preparing for its next auction which it will be launching in December and closing 14th December 2023 – please find more details here: https://www.elebbre.com/ 

Krank’s new downtown 3,700 sq.ft facility will be the engine house of development for the unique online marketplace.Rapidly expanding used equipment trading platform Krank has bolstered its Pakistan-based development team, opening a new technology centre at the heart of the country’s largest city, Karachi. Based in the newly built Fortune Tower commercial complex on Shahrah-e-Faisal, the quickly expanding team in Karachi has already grown to over 20 technologists, who together are crucial to the success in building, designing and running the platform’s complex tech stack. The team consist of Architects, Software Engineers, UI/UX Designers & Developers, QA Specialists, Mobile app Engineers and Project Managers.Krank is a SaaS platform that provides a new way to remarket used and new equipment, meaning customers can easily generate leads, sell more quickly, grow revenues and scale their businesses. With full control over sales data – plus Krank’s built-in analysis and forecasting – users generate actionable insights that can positively influence their buyer’s behaviour.With an abundance of talent, Pakistan is a growing hive of activity for technology development. The Karachi team works across multiple time zones, collaborating with colleagues and clients in Europe and the Americas.“Krank is a complex product and so the addition of a specialist office dedicated to the constant refinement and improvement of the platform will benefit customers as we expand our offering,” says Khurram Mumtaz, the company’s UK-based Chief Technology Officer. “The exciting city of Karachi is a hotspot for tech talent, and an ideal choice to base our technology centre.

Krank, a leading SaaS platform providing innovative solutions for the remarketing of used equipment for the likes of Liebherr and Maxim Cranes, has been awarded ISO 27001 certification. Recognized for being the gold standard of data security, the certification is a global acknowledgment of Krank’s  information security management system (ISMS).  Global technology giants, including Amazon, Google and Microsoft are all certified to ISO 27001, highlighting its elevated status and respect within the sector.  “Receiving ISO 27001 certification is a significant acknowledgment of our continuous efforts to provide secure and reliable services to our clients, customers and partners,” says Mark Turner, Founder and CEO of Krank. “This is another crucial step to growing the business, confirming that Krank is a diligent and responsible technology partner.” Information security ISO 27001 certification is a rigorous international standard that specifies the requirements for establishing, implementing, maintaining, and continually improving an information security management system within the context of the organization's overall business risks. It sets forth a risk management process, ensuring the confidentiality, integrity, and availability of information by applying a risk management process and providing assurance regarding the significant risks. Data security The process to achieving ISO 27001 is demanding, involving a meticulous process that requires organizations to demonstrate adherence to a set of detailed requirements, followed by a third party audit. It comprises of hundreds checks and controls, all aimed at safeguarding data security and integrity. The process is designed to vet and validate that the organization's information security protocols are not only in place and maintained, but are also effective and resilient against the changing landscape of cyber threats. Turner further commented: “Meeting the requirements of ISO 27001 is a substantial undertaking – Krank’s certification is a declaration of our commitment to the platform. It is a critical component in strengthening our services, positioning Krank as a dependable provider, prepared to exceed the expectations of the market’s major players.” 

Tasked with managing the operational growth of the rapidly expanding SaaS heavy equipment trading platform, Metcalfe will build on his extensive business, technology and start up experience to execute on Krank’s vision of transforming the inner workings for one of the largest global industries. As COO at Krank, Metcalfe will lead and scale business operations and go-to-market activities to deliver on Krank’s exciting business roadmap and expansion plans.Metcalfe began his career in institutional sales at Legal & General Investment Management. This was followed by strategy, business growth and operations roles at various B2B technology and startup companies, most recently rising to a COO role at the fintech start-up Cobalt. At his time at Cobalt, Metcalfe was pivotal in raising major institutional investment and signing global clients, including Citi and Deutsche Bank. He joins Krank following the company’s transformative deals with US rental giant Maxim Crane and technology company Liebherr, where the unique Krank platform will underpin a large proportion of the companies’ used equipment disposals. Giles Metcalfe, Chief Operating Officer at Krank.“I’m thrilled to be joining Krank at such a formative and fast-moving time for Krank’s unique business model,” Metcalfe said of his appointment. CEO and founder of Krank Mark Turner meanwhile, says: “Giles is a very welcome addition to the team – with his experience in growing technology businesses, I am confident he will make a very strong contribution in driving Krank’s rapid expansion.”From upstart to start upMetcalfe’s career to date has been marked by his entrepreneurial spirit and lateral thinking - having ran and sold a business by the age of 18 and receiving national newspaper coverage during the financial crisis for his innovative approach to securing his first job in London’s financial district. (Metcalfe stood with a banner and handed out CVs in Broadgate Circle, London – resulting in over 25 interviews in the following weeks.)