Speiz, has raised €1.3M in seed funding round led by F-LOG Ventures. The funding will enable Speiz to continue establishing their new SaaS-enabled marketplace for commercial warehouse real estate in Norway and expand its reach across Europe.
This investment comes at a time when the commercial proptech industry will be facing significant challenges and changing demand. Despite the recession increasing interest rates, causing property yields to shrink and property prices to collapse, Speiz sees these difficult times as an opportunity to support businesses. With reports of a warehouse vacancy rate of just 3% in the UK, a strain on supply chains will be felt as SMEs across Europe scramble to find warehouse space in competition with larger retailers storing excess inventory leftover from the pandemic.
Speiz was launched to be a cost-friendly, supplier-oriented solution to this common warehouse problem experience across the world and to help meet the ever-growing demand for warehouse space.
The brokerage market is broken and in great need of overhaul. Analog technology, expensive fees and inefficient rental processes have defined this industry, resulting in lack of transparency and shirking margins. Speiz is creating a new definition of warehouse leasing that meets the needs of modern business owners today. For last-mile delivery, micro-mobility and similar industries to grow, warehouse spaces for businesses are a priority. Speiz understands this necessity and offers a unique proposition to support their growth across Europe.
Distribution chains are changing in almost all industries, meaning warehouse facilities and distribution centers are more than ever a strategic competitive advantage. At the same time, they represent a significant cost factor. With the current search and leasing process for warehouse space being very non-digital, it’s almost unimaginable how the industry can move forward without proptech innovation.
The €1.3M investment will be used for product development and business expansion. With a 10% month over month growth on new facilities data and plans to use this funding to aggregate the largest European warehouse facilities database in commercial real estate – Speiz are primed to blitzscale across Europe. This kickstarts in 2023 with their first market expansion planned, thanks to this successful funding round.