Four members of Anges Québec and the Anges Québec Capital fund have invested $350,000 and $150,000 respectively in SmartReno.com, a growing Montreal company that is changing the field of renovation.
This $500,000 investment, led by angel investor Pierre Fleurent, completes a second round of $725,000 in financing supported by the BDC, the SDEVM, and the IRAP program at the NRC.
SmartReno.com provides a matching service between people who have renovation projects and qualified and available contractors. By placing their renovation project online, they receive three free quotes in less than 24 hours.
“This matching is possible thanks to a performing, multi-variable algorithm developed internally, which enables our highly-automated system to target the best contractors for a project,” explained Andrei Uglar, CEO and cofounder, alongside Éric Boily, of SmartReno.com.
Only well-established contractors can join the network. They are frequently referred contracts and benefit from an effective client development channel, more measurable and less costly than traditional advertising.
Already well-established in Montreal, where about 100 projects are traded daily through its site, the company now plans to extend its services to 15 cities in Canada and the US.