Norwegian proptech startup, Speiz, has raised €1.3M in seed funding round led by F-LOG Ventures. The funding will enable Speiz to continue establishing their new SaaS-enabled marketplace for commercial warehouse real estate in Norway and expand its reach across Europe.
Speiz started in the Antler Accelerator Program in 2020, co-founded by CEO, Paulius Kvedaras. He joined the program to solve a key pain point his family faced on their farm in Lithuania, where warehouse facilities were often underutilised and operationally expensive due to seasonalities. Speiz was launched to be a cost-friendly, supplier-oriented solution to this common warehouse problem and to help meet the ever-growing demand for warehouse space.
German based Venture Capital fund, F-LOG Ventures, under the wider FIEGE Logistik investment wing, led the investment round. In show of support, Iron Wolf Capital and Lithuanian VC fund, Angel Fund, also invested into the seed funding of Speiz’s growth. To date, the Norwegian proptech has raised approximately €1.8M including investments from Antler, Startup Lab and TRK Group (Managed by Trond Riiber Knudson).
The start-up’s product leverages the network effect to digitally transform the outdated brokerage market. Speiz’s pricing is 3-5 times cheaper than average broker market rates and removes up to 80% of the cost & time associated with leasing activities for suppliers. The new marketplace is cheaper and faster than working with brokers because it automates manual work with machine learning and smart algorithms. Speiz also offers supplier insights on market price and tenant needs enabling them to adapt and increase yield, bringing transparency to the market.
Currently, Speiz has data on over 1 million warehouse listings in seven markets, including the UK, Germany and Sweden. They already have an impressive customer list that includes the likes of ride app, Bolt and construction and engineering corporation, Elecnor.
The €1.3M investment will be used for product development and business expansion. With a 10% month over month growth on new facilities data, and plans to use this funding to aggregate the largest European warehouse facilities database in commercial real estate – Speiz are primed to blitzscale across Europe. This kickstarts in 2023 with their first market expansion planned, thanks to this successful funding round.
Speiz is a SaaS-enabled marketplace for commercial real estate. The digital-first platform enables warehouse owners to generate more revenue from their commercial property by easily matching with tenants looking for an optimal warehouse solution.
The marketplace offers a faster, cheaper and more modern alternative to the current brokerage process with a reduction of up to 80% in the cost & time associated with commercial leasing.
Speiz has access to over 1M unique property listings on the platform across 7 markets, with 400+ registered tenants. By aggregating market information from multiple data sources into a single marketplace for both suppliers and tenants, Speiz matches tenants with the optimal warehouse that meets their needs.