Done wants to digitalize the home renovation market – grew 500 percent last six months
Swedish startup Done has successfully raised €700,000 in seed funding in order to simplify home improvement projects for European consumers.
Founded in 2019, Done has since provided a platform where people can find and hire qualified craftspeople to do various renovation jobs. Before its advent, homeowners who wanted to work on their properties generally faced challenges in sourcing workers. This happened not only in Sweden but also in the entire European region. About 80 percent of renovation businesses in the country are small and localized.
Despite posting revenue of more than €300 billion per year, the home improvement industry in Sweden lacks digitalization. This means difficulty in communication between workers and consumers, which can also lead to a lack of transparency.
Co-founder and product manager Alek Åström said the startup’s investment in tech development has allowed these home improvement professionals to focus on their primary task, which is to deliver high-quality craftsmanship. Every aspect of the renovation project, including planning and invoicing, takes place in the Done app.
Nordic venture capitalist Almi Invest led the capital raising. Done plans to use the fund to strengthen its marketing division, focusing on making its business more visible in Sweden. Co-founder and CEO Malin Granlund has revealed Done’s plan to be profitable in 2023 before finally expanding internationally by the end of the year.
Done suitable for Swedish market
Done currently operates in 15 cities in Sweden, posting a 500 percent growth in the last six months. Granlund believes that the Swedish startup has a great opportunity to grow further because home renovation consumers prefer to work on small-scale projects, which are suitable for the Done platform.
“We are very proud of our growth journey and are currently tracking on an annual turnover of over SEK 30 million (€2 million),” Granlund said. “The early investment in our technical platform has allowed us to quickly scale up our network of quality-controlled craftsmen and now we have enormous strength in being able to offer craftsmen in selected categories all over Sweden.”
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