At a Glance
ProApp Oy has developed an Enterprise Resource Planning (ERP) software to help construction companies with subcontracting.
Traction and Ask
ProApp, founded in 2022 in Finland, is seeking to close a pre-seed round of €100,000 with a pre-money valuation of €800,000. Preferably, the investor should have expertise and contacts in the construction industry or SaaS space. ProApp’s software is ready for production and commercial pilots have started.
The investment is needed to:
- Sign-up 15 more customers and reach €10,000 MRR level by Q4 2023.
- Cover the self-financing part of public funding (Finnish ELY-keskus scheme).
- Strengthen the team with new hires in sales, product development and customer service.
Market, Business Model, Financials and Team
The global market for construction software is €5bn and is expected to grow at a 7% annual rate. ProApp’s business model is based on SaaS, where B2B small and medium-sized construction companies are charged a fixed monthly fee and a varying monthly user fee. The turnover is expected to grow strongly in the coming years and reach €1M by 2026. ProApp’s team has 25 years of software expertise and 15 years of construction industry expertise. The CEO also has experience in taking the company to the First North list.
As a new player in the market, ProApp software is modern, easier to use and has better UI than existing soIutions. ProApp has also advanced communication functions and language support for five languages. By using ProApp a contracting company can work transparently and strengthen their relationship with contractors and gain significant competitive advantage for their business.
ProApp has already raised €150,000 in loans from Finvera to develop its software. This combined with the current round will help ProApp to reach a solid base for expansion.
We aim to close this pre-seed round by 31 May 2023. €10,000 is the minimum investment ticket size.
Get in Touch
CEO Matti Lattu and the current owners are happy to tell you more about the business and are ready to meet investors in the coming weeks. Contact us and we will arrange a meeting.