Sigtree Technologies, a Prop-Tech start-up targeting real estate developers, aims to attract funding worth 500,000 euros, including 250,000 from SeedBlink. 7.14% of the company’s shares are due to go on sale tomorrow, September 2nd.
The investment round is supported by two private investors experienced in technology and real estate through an investment of 250,000 euros. The funds will be intended for the company’s expansion into other European markets, such as Poland, Hungary, the Czech Republic, Spain and Great Britain.
The company was launched in 2018 by Vlad Costea, with 14 years of experience in IT and telecommunications, the last 8 of which with the multinational Ericsson. The start-up quickly attracted two other former Ericsson colleagues who joined it as founders, Octavian Cazanciu and Razvan Dumitru, each with over 10 years of IT experience.
âThe pandemic has changed the real estate market, buying and renting habits. Everything is digital these days, and the concept of iBuyer is gaining momentum. Our platform responds to one of the market’s needs, namely the creation of a technological bridge between real estate developers, clients and service providers. We are aware of our company’s strengths and know exactly what to do to expand into other markets with greater potential. We are grateful to have such a competent team and relevant private investors who fully support our business strategy. This first round of investment is secured by external funding worth 250,000 euros, âsaid Vlad Costea, founder and CEO of Sigtree Technologies.
The company is valued at 3 million euros in advance. For 2022, management is targeting a turnover of 650,000 euros, 10 times higher than that of 2021, in a context of growing interest in the PropTech industry, particularly in Western Europe.
Over the next 2 years, the company is aiming for a further round of investment worth â¬ 2 million with a UK private equity fund, thus entering this market as well.
âPropTech is a rapidly growing vertical due to the growing interest of real estate developers in optimizing their operations and improving the customer experience. Sigtree’s innovative platform helps real estate developers optimize their operating costs from the early stages of projects, and meets all communication needs between developers and clients, simplifying access to essential information. We are pleased to be able to offer this opportunity to investors while supporting Sigtree in their efforts to accelerate growth. Said Andrei Dudoiu, Managing Partner and President of BoD SeedBlink.