The start-up aims to become the leading European platform for digital solutions for professionals, brands and consumers in the home improvement sector. Thanks to this operation, Eldo is strengthening its R&D projects around its SaaS marketing solution.
Become a leader on the European market within 5 years
With more than 100.000 reviews and photos of AFNOR-certified individuals on its site, Eldo has become the leader in construction customer reviews in France. This was the objective of the previous fundraising, carried out in 2019, for an amount of 3 million euros.
Today the start-up is completing a second funding round for 6 million euros raised from historical investors IRDI and M Capital, as well as from new partners Sofiouest and Grand Sud-Ouest Capital. Two of Eldo's industrial customers are also participating: the WECK Group and Unikalo.
Patrice Hutin, Managing Director of the investment company Sofiouest explains his decision to invest in Eldo: “The energy renovation and home improvement sector are key issues in France and Europe. Eldo is a major player on the market and is one of the partners supporting the digital transition of construction professionals, enabling them to meet the new expectations of brands and individuals”.
With this new fundraiser Eldo wants to accelerate the creation of its super-app for professionals and brands by boosting 2 axes:
- Continue to enrich its solution by developing new functionalities, creating partnerships and connections with the main software in the sector to improve the daily lives of the professionals and brands supported.
- Pursue and extend its European growth. Already present in Belgium and Switzerland with its partner Murprotec, Eldo has the ambition for the next 5 years to continue its development in Europe by opening up to its neighboring neighbors, in order to become the reference tool for construction professionals.
With 55 employees throughout France, Eldo collaborates with more than 2500 professionals and 60 manufacturers and brands, national and international in the sector, such as SOMFY, Schneider Electric, Ariston, Treppenmeister, Veka, SEGUIN or even profiles Systems.
Jean-Bernard Melet, CEO of Eldo, testifies: “Thanks to this new fundraising, we want to confirm our leading position in France but also and above all to lay the foundations for our future ambitions: to conquer the European markets. This will certainly happen, in the coming months, through great external growth projects."
Participate in accelerating energy renovation
Residential renovation presents a key ecological issue in Europe. By 2050 Europe will have to be climate neutral, yet housing uses 40% of the energy produced and generates 36% of greenhouse gas emissions. Buildings are the biggest consumer of energy in Europe and more than 30 million building units in the EU have excessive energy consumption (at least 2,5 times higher than that of average buildings - source European Commission, European Green Deal). If today Eldo wishes to accelerate its development it is also to support the 3,5 million companies and 5000 industrialists to face an ever growing and complex demand around this theme of energy renovation.
“What drives us is to help accelerate the deployment of this global energy renovation in private individuals, by providing the best possible tools to craftsmen and manufacturers so that they can respond better and faster to requests. Because they remain very strong despite the multiple crises facing the sector”, comments Jean-Bernard Melet.