Roca Group Ventures leads the capital raising for proptech company Aquí Tu Reforma

• All current shareholders, led by Iberdrola, have participate in the capital increase.

• ATR is the leading digital platform for home refurbishments in Spain with sustainability at the core of its transformations.

 

Roca Group, world leader in design, production and marketing of bathroom products, has led, through its Roca Group Ventures fund dedicated to the investment in startups and early-stage projects, the €2.5 million capital raising for the leader in home refurbishments in Spain, Aquí Tu Reforma (ATR). With a technological and sustainable approach, this proptech, founded in 2018, bases its strategy on a franchise model that digitises businesses, with the aim of improving the end-user experience.

In words of Francisco Morán, CEO and Co-founder of Aquí tu Reforma: “this agreement with Roca Group Ventures will allow Aquí tu Reforma to become the first global renovation brand to lead the transformation of the sector through technological innovation and with a clear focus on the well-being of people in sustainable cities”.

ATR will use these new funds to strengthen its sales team and to expand its network of franchisees in Spain. It will also boost the development of its technological capabilities and expand its business internationally, although it already has a presence in Italy, Mexico and Colombia.

 

Aquí tu Reforma has more than 130 renovation companies operating under its brand in Spain and has agreements with large multinationals among the home, renovation materials and banking institutions.

 

Its business is focused on the refurbishment and renovation of homes and buildings, with a consolidated model of brand licences that has a powerful digital platform, which allows the comprehensive management of the refurbishment process for its licensees: from the supply and purchase of materials, to the financing of the final customer, including the management of the works or the refurbishment business itself. In addition, the platform allows the client to be involved in the entire process.

Iberdrola, through its Perseo start-up programme, and Seaya Ventures, among other investors, have also participated in the capital raising.

In words of the head of Roca Group Ventures, Daniel Valverde: “This investment allows Roca Group to strengthen its position in the renovation market, where Roca products have always been an essential element. Thanks to technology, we will increase our knowledge of consumers and their needs when renovating their home or bathroom, always from a sustainable point of view”.

This is the first investment of the 25-million-euro fund announced by Roca Group last year. As its CEO, Albert Magrans, points out: “Roca Group Ventures seeks to generate a hybrid entrepreneurial model that combines the advantages of a large company (resources, scale, knowledge, experience, marketing) with innovation, technology, motivation, agility and talent of a start-up”.

 

In the upcoming months, new investments are expected from the fund, which expects to close the year with 4-5 startups in its portfolio.

 

Since March 2022, Roca Group has had Alantra as advisor to its Roca Group Ventures fund. Alantra, through its Venture Capital unit, supports corporations in the launch and management of their corporate funds investing in startups.