Premoney 41: Loantuitive & Flexdesk
Modernization of proptech: Future of Work & the Future of Loan Management
Welcome to week 41! A couple interesting prop-tech companies this week. This coming couple of weeks I plan to continue to look for more proper “tech” companies vs. consumer companies. Thanks for the feedback on this!
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This weeks companies:
Company: LOANtuitive
Founder: Dave Siegfried (2x founder & executive operator)
Raise Details: Raising $1M, $700k already committed.
Investor Perspective:
“First we were very impressed with the Founding team both in terms their deep industry expertise in a huge and nuanced market and also in their ability to evangelize and sell the vision. Secondly they have been able to generate very quick meaningful traction resulting in quick growth in transactions on the platform - by creating a key distribution partnership very early in the company’s lifecycle.”
- Alex Chang, Co-Founder/Partner Underdog Labs
Vertical: Fintech, Real Estate, Property Tech
Business Model: Marketplace, B2B SaaS
1-Liner: A B2B SaaS enabled marketplace solving for the antiquated way in which over $700 billion in commercial real estate debt is placed in the U.S. each year.
Description: LOANtuitive empowers commercial mortgage brokers to collect, evaluate and place loan requests with lenders in a marketplace fueled by machine learning.
Traction Indicators:
Launched an MVP
Generated over $500MM in loan volume since March
Placed its first loan request with a lender for funding.
Company: FlexDesk
Founder: Clark Jacobs
Raise Details: Raising $1M. $500K currently committed from strategic angels and syndicates. Noteworthy angels include Ben Doherty (founder of Favor & Sunroom Rentals) and John Snyder (President/CEO of BCD Travel, one of the world's largest corporate travel management platforms).
Vertical: Property Tech, Marketplace, Real Estate, Future of Work
Business Model: B2B2C, Marketplace
1-Liner: Platform for companies to manage coworking stipends for their remote workforce.
Description: Companies like Spotify and Dropbox are transitioning into 'permanent remote work'. They now provide remote employees with a monthly stipend to rent coworking space; FlexDesk makes it easy for remote-first companies to distribute and manage these coworking stipends. Employees use the platform to easily find and rent a coworking space. In turn, FlexDesk equips the company HR department with a streamlined solution to 1) set spend thresholds, 2) receive a single invoice for all employee spend, and 3) view reports around usage. The value proposition is similar to how a corporate travel management platform aggregates and simplifies the travel process for companies.
Traction Indicators:
3 companies participating in a pilot program.
10 qualified prospects representing $40K in probability-weighted monthly transaction volume.
That’s all for this week - thanks everyone!
Jake