Sigtree Technologies, a Prop-Tech start-up that targets real estate developers, aims to attract financing worth 500.000 Euro, out of which 250.000 on SeedBlink. 7,14% of the company’s stocks are to be put up for sale tomorrow, 2nd of September.
The investment round is supported by two private investors with experience in technology and real estate through a 250.000 Euro investment. The funds will be directed towards the company’s expansion on 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 IT and Telcom experience, out of which the last 8 within the Ericsson multinational company. The start-up quickly attracted two other former coworkers from Ericsson who joined as founders, Octavian Cazanciu and Razvan Dumitru, each with 10+ years of IT experience.
“The Pandemic has changed the real estate market, the buying and renting habits. Everything is digital nowadays, and the concept of iBuyer is gaining momentum. Our platform addresses 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 business’s strong assets and we know exactly what to do to grow in other markets, with higher potential. We feel thankful for having such a capable team and relevant private investors who fully support our business strategy. This first round of investment is secured by external financing worth 250.000 Euro”, says Vlad Costea, founder and CEO Sigtree Technologies.
The company is evaluated at 3 million euro pre-money. For 2022, the management targets a turnover of 650.000 euro, 10 times higher than in 2021, in the context of growing interest in the PropTech industry, especially in Western Europe.
In the next 2 years, the company targets a new investment round worth 2 million Euro from a UK-sourced private investment fund, thus, entering this market as well.
“PropTech is a fast-growing vertical due to the increasing interest of real estate developers to optimize their operations and improve the customer experience. Sigtree’s innovative platform helps real estate developers optimize their opperational costs at the early stages of projects, and addresses all communication needs between developers and customers, simplifying the access to essential information. We are pleased to be able to offer this opportunity to investors while supporting Sigtree in their accelerated growth efforts.” said Andrei Dudoiu, Managing Partner & President of BoD SeedBlink.