Estonia-based Remato raises €1.45M to grow its construction management platform

Most of the small and medium businesses (SMBs) in Europe and the US are in dire need of digitisation as they face universal challenges in terms of performance, administration, and deadlines. This happens because of being under digitised or deploying fragmented software for specific tasks.

Estonia-based construction tech startup Remato has raised $1.7M (nearly €1.45M) in a seed investment round which was led by London-based Passion Capital.

The funding round saw participation from additional investors which included founders and early team members of Pipedrive along with venture funds Superangel, Lemonade Stand, Spring Capital, and Kaamos Group. In total, the startup has raised a funding of up to $2.5M after the closing of this round.

Fund Utilisation

With the proceeds, the company intends to further its efforts towards the UK construction market. After the appointment of UK-based industry growth manager, Simon Gibbons, as an advisor, Remato is eyeing a 2-3 times growth by the end of 2021. According to the company, its founding team envisions a marketplace for its customers for collaboration, bidding, and leasing of labour, materials, and equipment, as the company grows. 

Madis Lehtmets, co-founder and CEO of Remato says, “The construction industry needs simplicity and modern design to achieve the mass adoption of software. We believe that user experience should be much more of a priority, as frontline adoption depends on it. It helps the traditionally low-tech industry to go fully digital.”

About Remato

Founded in 2018 in Tartu, Estonia, the construction tech startup Remato digitises the construction sector, mainly the SMBs who are responsible for 95 per cent of the work on-site and represent 80 per cent of the overall global construction market. 

The Remato-developed software enables field contractors to easily plan and manage budgets, labour, materials, and equipment all in one app, and it provides superior situational awareness by enabling real-time collaboration for offices, field crews, and client representatives.

Developed by a team with global tech background in companies like Wise, Booking.com and Glia, Remato claims to be growing steadily at 10-15 per cent MoM. It has 1700 daily active users. Currently, Remato has hundreds of companies as customers in the Nordics and Baltics. The company also has 14 team members in Estonia and Finland, and it is planning to increase its presence in the UK.

Eileen Burbidge, Partner at Passion Capital, says, “We’re very excited to be working with Remato. Their traction to date clearly validates the need for digital user experiences and platforms for the massive construction sector, which comprises 10% of the global economy. We look forward to supporting the team’s ambitions in the UK, across the rest of Europe, and North America.”