At a Glance
FoxDo is a Finnish technology company that has developed a first of its kind service platform for home renovation. FoxDo helps homeowners find contractors for improvement and remodeling projects with a few clicks and reduces paperwork and contracting risks from both parties.
Traction and Ask
With €255k net revenues and 500+ customers in 2022, FoxDo is now looking to raise €400k seed funding, ideally from investors with expertise in B2C sales and new market expansion. The investment is needed to:
- Scale up in the Finnish market (expansion to Tampere, Turku and Oulu) and pilot in Poland and Estonia (Warsaw and Tallinn)
- Reach 1500+ new customers and €150k net monthly revenues by Q1 2024
Market, Business Model, Financials and Team
In a global home improvement market in 2021 worth €1400Bn (+5,23% CAGR/year), FoxDo was founded in 2018 in Sipoo, Finland.
Homeowners order from FoxDo and pay labor per hour plus construction materials. The customer gets clear terms and conditions with warranty. FoxDo takes care of marketing and customer acquisition. On top of that we offer service providers invoicing and customer service. Our average commission, that is charged from the customer, is 20%.
FoxDo team of 1 full-time co-founder, 1 part-time co-founder and 6 employees combines several decades of commercial, business development, software development and home improvement expertise.
Competitive Advantage
While FoxDo’s competitors (Urakkamaailma in Finland, Fixly in Poland, MyHammer in Germany and Angi in the USA) focus on digitizing the bidding process, FoxDo digitalizes and simplifies EVERYTHING about renovation from start to finish.
FoxDo is the only service platform, where:
- Customers don’t have to request quotes for pricing
- Reviews of all available service providers are publicly available
- Customers can see when the service provider is available for the job
Round Details
At a €2.270.000 (pre-money) valuation, FoxDo aims to close this seed round by 30 September 2023 with €63k already committed by private investors and a minimum investment ticket size of €20k.
FoxDo has previously raised €691k in private capital and €795k in loans and grants from Business Finland and ELY Centre to develop its platform MVP, which means that, after this investment round is secured, FoxDo is fully ready for international commercial uptake.
Get in Touch
Rami Saajoranta, Co-Founder & CEO, is speaking with potential investors over the next few weeks and is keen to pitch, demo and open up their traction and financial plans in detail.