RO startup Bright Spaces raises EUR 1.5 mln seed funding for end-to-end digital leasing platform

Bright Spaces, a startup providing an end-to-end digital leasing solution for commercial real estate worldwide, raised EUR 1.5 million in a seed round led by French VC Axeleo Capital. Pi Labs, Sparking Capital, Growceanu and a group of international angels also invested.

The funding will support the growth of the company, the development of new tech features and its expansion to new markets in CEE and Western Europe, the startup said.

The Bright Spaces’ solution allows future tenants to visualize and interact digitally with an office space in 3D, discover its main tech specs, surroundings, main points of interest, and request an offer or book a live tour. Landlords can use an integrated, easy-to-use admin panel that provides data on closed deals, vacancy, potential customers and their specific requirements (desired parking spaces, storage etc.) and can generate a personalized HOT directly from the platform.

Since its launch in 2019, Bright Spaces has raised a pre-seed round from local investors and has launched several tailored digital leasing platforms that streamline leasing processes for their clients in Romania and the UK. Some of the startup’s first clients are Skanska, One United Properties, Impact Hub, and Moorland Property Solutions.

As a consequence of the company’s sustainable growth, after their initial investment, Sparking Capital and Growceanu decided to do a follow-on and join the new round for Bright Spaces.

Among the angels who decided to invest, while offering mentorship and industry knowledge as well, are Alexandru Boghiu (Mavers Wealth Management), Marian Dinu (DLA Piper Dinu), Barrie Heptonstall (a former IBM executive and angel with 60 investments), and Elena Vladescu (financial advisor).

“We are witnessing an accelerated digitization of the commercial real estate industry and an increased interest for tech solutions that facilitate digital leasing and visualization of spaces. The solutions we are building will transform the way landlords do business from now on, and we are grateful to all our partners, clients, and mentors who trust us and help us grow,” Bogdan Nicoara, cofounder & CEO of Bright Spaces, said.

“Bright Spaces brilliantly integrates existing workflow of real estate players to accelerate commercialization and optimize management of tenants without disrupting the organization. The platform also helps asset managers get more control on their data to easily value them later, which answers a real market need. This awareness of industry practice has already paid with powerful players adopting the solution both in eastern and western Europe,” Mathias Flattin, partner and fund manager of Axeleo Proptech I, said.

Romanian startup gets EUR 185,000 financing for proptech solution