Investing heavily in satisfied home buyers - raising NOK 10 million in fresh capital
Bygr has raised NOK 10 million in fresh capital for further growth and the development of its technology. The Bergen-based startup offers a unique platform for better dialogue between all parties in residential projects – real estate developers, turnkey contractors and subcontractors, architects, suppliers and not least home buyers.
“The company has seen very positive developments in the past year, and we have seen great growth in terms of both new customers and employees. The fact that big hitters are now putting up fresh capital allows us to keep up the positive development of the company,” says general manager and founder of Bygr, Guy Montuelle.
Industry giants on the team
The digital platform allows home buyers to choose all optionals, for example electrical outlets, flooring, bathroom tiles and even move walls. All choices are documented, while at the same time both buyer and seller can easily and efficiently follow the process from signing the contract to the finished home.
Among those who recognise the potential in the technology are AF Eiendom, AF- and OBOS-owned Construct Venture, Grand Invest and Innovation Norway.
“Our ambition is to have very satisfied customers, and then we need to focus on tools that facilitate this,” says Ole Blaauw Johansen, Portfolio Director with AF Eiendom.
The real estate company was an early investor, and has maintained a close partnership throughout the development of the solution.
“It is therefore only natural for us to invest further in Bygr. We believe that this can contribute to making the buying experience far better for our customers, and indeed benefit the entire industry,” Johansen says.
Good reception in the market
The technology has been very well received in the market, and in the past six months Bygr has signed contracts with several large residential developers and contractors. The company currently has a portfolio of more than 1,000 homes, and AF Gruppen uses the platform through the companies AF Eiendom, LAB Entreprenør, Peab, Kruse Smith and Consto.
“The numerous customer contracts and the close relationship with big real estate players the company has established in a short time is evidence of the interest in the company’s technology,” says Jan Fossgård, head of Construct Venture.
“The technology contributes to rationalise and improve the customer journey, while also giving both seller and buyer better control. The aim is that all parties are left with a better experience of the buying process,” Montuelle says, adding that an aftermarket module is under development and will be launched in the near future.
“Then the platform will handle a larger part of the buying process and also handle all MOM documentation (management, operation and maintenance) and claims,” he says.
About Construct Venture:
With its focus on growth companies through Construct Venture, AF Gruppen and OBOS want to contribute to establish a smarter and more future-oriented supplier industry in building and construction that also gives the industry competitiveness. The partnership is industrially supported based on smart capital, where AF and OBOS contribute with industry expertise, processes and well-functioning systems, in addition to financial strength. The companies are making their projects available for testing and developing technology concepts on a large scale.