PropTech Lab launches Relevation to combat Covid funding woes
Belgian innovation network, PropTech Lab, is taking fundraising online with a digital summit in July, bringing together investors and start-ups to combat cashflow issues faced by businesses across Europe due to the coronavirus crisis.
According to PropTech Lab, there are almost 3,000 proptech start-ups in Europe and around 50% of them are predicting cashflow and liquidity issues within the next three months.
In response, PropTech Lab has joined with PropTech House to create Relevation.org, the first fundraising digital summit.
Relevation, referring to ‘real estate’ and ‘elevation’, is a two-day online event, gathering investors such as business angels and VCs alongside start-ups seeking funding, from all around the world.
Idriss Goossens of PropTech Lab said: “The purpose of Relevation is to facilitate investment and fundraisings in proptech. Turning the Covid-19 into an opportunity: we are convinced that the sanitary and economic crisis will accelerate, in the medium term, the inevitable digital transformation of construction and real estate.
“Nonetheless, in the short term, most start-ups will have liquidity issues, and if we don’t react fast the European proptech ecosystem will return to its level of three years ago.
“Covid-19 could represent for investors an opportunity to have access to great deals. The only connection that was missing was Relevation, to facilitate the matchmaking between start-ups and investors.”
The digital event will be made up of “match-making and speed dating” between investors and proptech start-ups, as well as video-streamed talks.
Taking place on the 1-2 July, 2,900 start-ups in fundraising mode have been invited, alongside more than 2,000 investors, and 30 speakers from across the world.