GenieBelt announces €700k funding round

GenieBelt, the Copenhagen, Denmark-based provider of a free SaaS construction collaboration platform (launched in November 2014), today announced a new angel round led by European angel investor and former CEO of Just Eat, Klaus Nyengaard. Ditlev Bredahl, CEO of OnApp, also contributed to the €700,000 funding round.

GenieBelt says it will use the angel funding round to enhance the functionality of its Software-as-a-Service platform and intensify its marketing activities. Co-founder and CEO of the 15-strong business, Gari Nickson says:

This funding round will help us make GenieBelt accessible to construction projects globally. With a strong team already in place, the additional resources will be used to improve existing modules, scale to all platforms, develop additional features and to take on more of the value chain.

Klaus Nyengaard (also a co-founder of GenieBelt and chairman) specialises in digital marketplaces and workflow solutions for verticals. He says:

Construction is one of the last remaining ‘old’ industries waiting to be disrupted. It’s one of those industries never touched by the desktop revolution and now with the increasing penetration of mobile and tablets we are seeing the construction site being connected like never before. I am really excited to be a part of this journey. We have a strong team at GenieBelt, with a unique mix of industry and startup experience. We also have a very international team and a will to build a great company.