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PropTech May 12, 2021

Proptech startup Pigello raises capital from PropTech Farm, challenges traditional real estate systems

SaaS company Pigello (formerly Atlas Fastighetssystem) raises SEK 4 million in a financing round to aggressively challenge traditional property systems. Among the investors is the newly started VC company PropTech Farm with Fredrik Bergman at the helm, which will support the company ahead of a future global expansion.

The team behind Pigello

Pigello challenges the real estate industry with a platform that automates the management of real estate through integrations and AI. Now, the company want to challenge traditional players in the real estate systems market.

The purpose of the platform is to let real estate companies own their data and work process-oriented with the help of a platform that provides automated processes for both financial, technical and administrative management. With a focus on open APIs, the platform already offers over 15 integrations with real estate niche systems.

– We want to help real estate companies to replace traditional real estate systems, which for the past 20 years have locked in real estate companies’ data, and thus counteracted the possibilities for a common ecosystem with integrations. With Pigello, real estate companies can replace their previous real estate systems and open the door to a new world where customers themselves choose which systems to use for the various processes.

Alexander Olsson, CEO and co-founder of Pigello

Pigello becomes a portfolio company of the newly started investment company PropTech Farm, which will enter as a lead investor in Pigello’s first financing round. PropTech Farm aims to invest SEK 200 million in proptech startups over a 5-year period and has already succeeded in completing five transactions in a short time. In addition to the founders Fredrik Bergman and Linus Björk, Mikael Wintzell, founder and CEO of Wellstreet Partners; Samir Taha, founder of Aros Bostad; Tom Olander, CEO and founder of JOOL Invest, and Oscar Rolfsson, CFO of Pegroco Invest, are behind the VC.

– From the first meeting, we immediately felt that this management team is a team that we at PropTech Farm can really work and develop together with. In addition to the potential in the Swedish and Nordic markets, we see great potential in taking Pigello and its SaaS software internationally. We also see synergies with other investments we have and will make.

Fredrik Bergman, CEO of PropTech Farm

Pigello was founded in 2019 as Atlas Fastighetssystem at KTH Innovation and was subsequently backed by the accelerator Sting and Sting’s investment company Propel Capital. In connection with the investment from PropTech Farm, the startup chose to change its name to lay a foundation for an upcoming international expansion.

– With PropTech Farm behind us, we can more effectively get the platform out to new customers and help more forward-leaning real estate companies to switch from their existing, traditional, real estate systems. In addition, we can add an additional gear in the development and build more integrations towards market-leading systems. With the help of PropTech Farm’s strong network, we can also implement an international expansion faster, says Alexander Olsson.

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