How Spotable raised €1.25M to accelerate AI quotes in construction

Sebastien Vandendriessche (Founder - Product), an experienced entrepreneur with a knack for the construction sector. Started a successful construction startup earlier. Pieter-Jan Philips (Founder - Tech), full-stack AI engineer with a degree in architectural engineering and knows exactly how to build complex SaaS products. Julie Dumoulin (Founder - Sales), sales powerhouse that closes deals above €200K and understands better than anyone how to build a team and convince investors.

The challenge

Spotable wanted to scale up. Faster product development, more sales and powerful marketing. This requires money, but not just money. They were looking for investors with brains and capital.

The approach

The Harbour not only helped with the search for funding, but also with a strategic approach.

Through a targeted investor approach, Spotable did not just raise money, but investors who added real value. With a smart financing mix, they secured €800,000 via CLA (Convertible Loan Agreement), €300,000 in investment credit with Belfius country €150,000 co-financing from PMV. In doing so, they exceeded their goal of €850,000 and closed on from impressive €1,250,000. This was no accident, but the result of a razor-sharp pitch and strategic negotiations.

The result

The funding round was successfully completed, prices were raised and a few new customers were immediately brought in. Meanwhile, AI-driven quote generation and 3D home models were launched, and an experienced full-stack developer was recruited to further scale up the software. With a solid capital base, the focus is now on product development and international expansion. The next big milestone? Seed round. And just like this round, The Harbour is ready to bring strategic investors to the table.

Just when everyone thought the round was over, an extra piece was unexpectedly added to the CLA round. The Harbour persevered, made one last strategic push, and was also able to secure this additional investment. Thanks to that effort, they were able to convince and bring additional parties on board.

In the latest, surprising move, The Harbour also brought in four established names from the Ghent tech ecosystem, all with a proven track record: Louis Jonckheere, Matthias Geeroms, Jorn Vanysacker country Gilles Mattelin. All entrepreneurs who are now contributing to Spotable.