London startup raises £3m to transform home renovations
A London digital startup has raised $4m (approx. £3.05m) in seed funding to transform home renovations.
Weaver, a service connecting architects and general contractors over a digital marketplace, will use the investment to fuel expansion plans across metro areas in the UK.
The startup has built a bidding platform for homeowners and architects to obtain contractor prices for their renovation projects. It aims to help architects and their homeowner clients reduce the risks associated with hiring a general contractor by developing software that does all the critical work from sourcing, pricing, contracting, and paying contractors over one interface.
The round was led by European VC, btov Partners with investors including FJ Labs, Enterprise Fund, Ben Naftzger, Justen Stepka, Jens Schumacher, and Dr Stefan Heitmann.
Greg Keane, CEO and founder, said: “We have been focused on building a platform for home renovation that not only serves an imminent need but will deliver even more value as we scale.
“Very few industries are as behind as the construction industry, and we are poised to become a game changer that can make home renovation much easier, less risky, and more cost-effective for contractors, architects and homeowners alike.”
Florian Schweitzer, CEO and partner at btov, said: “We have been following the market for quite some time and have not seen any other player with comparable traction at this stage.
“The team is extremely focused and determined with deep talent to succeed. Hence, we are convinced that Weaver is on to something special and will have a massive impact on the market.”
Weaver’s marketplace has been live for over 4 years and in 2021 orders on the platform grew by 2.6 times over the previous year. The marketplace has processed over $120m worth of construction to-date, at an average project value of $160k (representing a full renovation of a Victorian house).
Looking to promote your product/service to SME businesses in your region? Find out how Bdaily can help →
Enjoy the read? Get Bdaily delivered.
Sign up to receive our popular morning London email for free.