Setle, a Belgian startup touted to be a reliable partner for the real estate market, has grabbed €1.5 million in funding. The investment round was led by KBC (that backed Pharrowtech) and marks a new partnership between the bank and the startup.
New pilot projects this autumn
The proceeds of this funding round will be used to expand the platform, and give KBC Bank customers a worry-free approach to sustainable renovation. Setle and KBC will also be starting a number of pilot projects in the autumn.
Thibaut Nivelles, CEO of Setle said, “We are delighted that KBC, which boasts the best mobile banking app in the world and has a clear focus on sustainability, will be supporting us in the further development of our business.”
Karin Van Hoecke, Innovation Manager at KBC Group’s Belgium Business Unit said, “The investment in Setle is the next step in ensuring maximum convenience for our customers when they renovate their homes and make them more energy-efficient. We see that customers are looking for solutions that make their lives easier, and we recognise Setle’s potential in this regard. We believe in Setle’s strong team and excellent solutions that seamlessly meet our customers’ challenges and contribute to a total solution and experience for them.”
Platform for construction professionals
Setle was founded by Thibaut Nivelles in 2020 in Belgium as a SaaS-driven renovation project management software for construction professionals. It is an online platform that helps make better decisions during renovation. The Belgian company is on a mission to make renovations more transparent, from making homes more energy efficient to maximising the housing budget.
Features of the platform include renovation, notary, and other cost calculations, annual invoicing, monthly invoicing, renovation tool, grants and premium management, renovation file management, data management, cost insight management, and more.
The Setle tool helps real estate agents show individuals, both buyers and renovators, an estimate of the overall cost of the property, including renovation costs. It ensures to make the property more sustainable, and improve the energy label rating, and energy consumption. It also includes potential subsidies and grants and quotes from contractors.
There are benefits for prospective builders and renovators as well. They can view the current rates for all applicable renovation works and can easily calculate the cost of renovating the property of their choice. Eventually, they will have a good idea to check the rates charged by their contractor.
Currently, Setle is used by over 425 estate agents and counts around 10 team members.
