Proptech Startup Expands Beyond Real Estate with Electronic Document Signing Solutions
FLK it over, a pioneering proptech startup specializing in electronic document signing solutions, has successfully raised $2.5 million in funding, signaling its ambitions to diversify into sectors beyond real estate. Founded in 2016 by former real estate agent Andrew Colagiuri, the company aims to streamline administrative tasks, particularly tenant signing processes, making them more efficient and less cumbersome.
This latest funding round follows a previous investment of $2.13 million in 2022, with contributions from notable investors including Charter Hall founder David Southon, who has reaffirmed his support in this new round, alongside Bilgola Capital. With a current team of 24 staff members, FLK it over plans to utilize the capital injection to expand its operations both within Australia and into new sectors such as law, financial advice, and accounting.
Colagiuri emphasizes the simplicity and seamlessness of their e-signature solution, which addresses the ubiquitous need for signatures across various processes within the real estate industry. He highlights the company’s commitment to delivering a user-friendly platform that prioritizes both agent and client experiences, particularly on mobile devices.
The startup has already begun to witness traction outside of the real estate sector, notably with the integration of SMS delivery services. Colagiuri foresees significant revenue growth in this area over the next 18 months, driven by FLK it over’s innovative approach to solving everyday challenges faced by agents.
FLK it over boasts impressive growth statistics, with over 700 real estate agencies, including 4,500 property managers, currently utilizing their platform. Monthly document signings exceed 30,000, with a substantial portion attributed to residential leases, totaling around 16,000 leases per month.
Investors like David Southon express admiration for FLK it over’s digital approach to signing and managing residential lease documents, recognizing the potential of the platform, particularly within the emerging build-to-rent sector. Colagiuri’s deep understanding of the industry and his focus on providing smart, efficient, and seamless solutions resonate with investors seeking innovative opportunities in the proptech space.
Randolf Clinton of Clinton Capital Partners, who managed the capital raise, praises Colagiuri’s vision and execution, highlighting FLK it over’s consistent month-on-month growth and its ability to address critical bottlenecks in the property industry. The company’s strategic approach has attracted a host of investors, positioning FLK it over as a standout player in the proptech landscape.
FLK it over’s successful funding round underscores its commitment to innovation and its vision of revolutionizing document signing processes across diverse sectors, promising a future marked by enhanced efficiency and seamless user experiences.
