Spacewise secures investment worth millions

Zurich – Spacewise has received a seven-figure investment in a post-seed financing round. The proptech company intends to use this to optimize its platform for short-term commercial rentals and expand further in Canada and the USA.

Spacewise has received fresh capital to further invest in its product development and expansion in North America. According to a press release, an undisclosed seven-figure sum was raised in a post-seed financing round. The round was led by Zug-based investor Sandermoen with the participation of Zürcher Kantonalbank (ZKB) and several family offices and business angels.

The Zurich-based proptech software-as-a-service company operates an award-winning platform for the temporary rental of retail properties. Brad Peppard, Chairman of the Board of Directors, describes this platform as a "first-class solution for sales automation". Spacewise is "well on the way to doing for short-term commercial rentals what online booking services have done for hotel reservations".

Customers can either opt for a comprehensive end-to-end solution or for specific modules. This flexibility, according to Spacewise, "increases effectiveness and efficiency in presenting property portfolios, managing space inventory and maximizing revenue."

In Europe, Spacewise works with Migros, Swiss Post, Coop, Wincasa and SBB, among others, which handle thousands of rental contracts. In North America, we have partnerships with major players such as Regency Centers and Oxford Properties.

"Spacewise has recognized a critical market need and has achieved impressive market momentum in Switzerland," investment manager Yves Becker from ZKB is quoted as saying. "The unique white labeling solution and strong network of partnerships positions the company well for international expansion." ce/mm

View full article