Six finalists in the Property Portal Watch Madrid conference Pitch Club competition have swallowed their nerves and presented their business ideas and funding pitches to judge and delegates.
Each finalist was given five minutes to describe the problem they are attempting to solve with their idea or current business model, and detail their company’s specific competitive advantage and explain why they are asking for a particular funding sum.
PPW founder Simon Baker, Mitula.com Founder Gonzalo Ortiz and Malcolm Myers, CEO of European Internet Ventures were judges for the event.
And, while there was no direct investment money up fro grabs, each of the six were given plenty of advice from the three industry leaders following their pitch and Q&A session.
The six finalists were:
Funding pitch: homePad is asking for €2 million (USD$2.25 million) to expand in Germany and UK and become the leader in Europe.
Funding pitch: Mesto wants to raise up to US$3 million to dominate the Ukrainian market and also expand internationally with their language agnostic platform.
Funding pitch: Homester is looking to raise US$500,000 to US$1 million in a pre-series A funding round.
Jagonal is an online platform primarily concerned with office space. It claims current commercial real estate portals provide such a poor user experience for tenants looking for an office that 80 percent choose to use tenant representatives and brokers instead. Jagonal works with major commercial property owners such as Lend Lease, DEXUS and Charter Hall with billions of dollars of commercial property assets and indexes thousands of commercial buildings and makes them searchable across 50 criteria including parking, transport, showers, views, child care facilities, floor plans, CAD drawings and more. It has powerful patent-pending tools for tenants and tenant representatives/brokers to find the right office and solves the leasing problems for landlords and real estate agents, which in turn saves millions of dollars.
Funding pitch: AUD$1.125 million (USD$848,000).
Funding pitch: A staggered investment of €2 million (USD$2.25 million) now and a further €4 million (USD$4.5 million) in 12 months’ time.