Swedish design tech company Beleco launches Design on Demand service and secures a SEK 1.6 million seed investment from well-known investors in the technology sector.
Beleco was founded to meet the growing need for flexible furnishings from millennials. Customers pay 5% of the price of the furniture per month instead of buying it. They can also choose to pay the rest value of their furniture and keep it, or swap the item for something different.
– Design on Demand gives customers the opportunity to create their dream homes, with flexibility and without major investments. The service provides the freedom to quickly adapt and renew your home to follow new trends. There is nothing stopping you if your life situation changes or you need to move on short notice. Simply put, flexible furnishings, says Marie Rudenstam, founder and CEO.
The investment round was led by Anders Göransson at Soläng Invest and Simon Josefsson, who has previously invested in, among others, Yubico. The investor group also includes Mattias Weinhandl, former NHL pro and now tech investor, as well as Anna Ljungbergh, who is an investor and board member at Propel Capital. Anna will also be joining Beleco’s board as chairman. Vinnova, The Swedish Governmental Agency for Innovation Systems, will be financing one of Beleco’s upcoming projects.
– Six out of ten Swedes choose to throw away their furniture when they get tired of it, and 1.2 million households move every year in Sweden. This shows that there is much potential for streamlined furnishings, says Marie Rudenstam.
– The industry and the trend of digital nomads contribute to our strong confidence in Beleco’s business concept. The interest for interior design is growing exponentially and more and more people want follow the latest trends in their homes, just like in the clothing industry. Beleco has found a way to meet that demand without contributing to wasting resources, comments Simon Josefsson.
– The breadth of knowledge and the collective experience of our investors are invaluable to us. The team at Beleco is looking forward to revving up our expansion, and more big news will be announced later this autumn, says Marie Rudenstam.
Beleco was accepted to the Sting Incubate program in early 2017.
Sandra Kinnmark, CMO, 0709-106 284, firstname.lastname@example.org