GenieBelt raises new funding round

GenieBelt, the collaboration platform specifically designed for construction, 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.

Based in Copenhagen, GenieBelt’s construction collaboration platform helps the industry to finish on time and to budget.  GenieBelt will use the angel funding round to enhance the functionality of its platform and intensify its marketing activities.

Gari Nickson, CoFounder and CEO of GenieBelt, said: “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 is also a co-founder of GenieBelt and acts as active chairman. The Denmark based Angel specialises in digital marketplaces and workflow solutions for verticals.

Klaus Nyengaard, former CEO of Just Eat and Angel Investor, said: “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.”

Anyone involved in Construction can use GenieBelt’s core features for free, forever. Construction represents 8-10% of GDP for developed Countries and GenieBelt is focused on the SME market which make up three quarters of the industry.

GenieBelt users gain two major advantages. Firstly, users only need to have an internet connection to gain access to their projects and collaborate. Secondly by using a platform specifically designed for Construction, by Construction, the workflows in place help them reduce wastage, administrative work and expensive litigation claims and thus increasing collaboration and transparency.

About GenieBelt

GenieBelt is a Construction collaboration platform that enables small & medium construction businesses to project manage and collaborate based on industry specific workflows. By using a simple collaboration tool, GenieBelt users can set up their project within minutes, reduce project wastage, reduce administration work and increase transparency.

Founded in August 2013 and based in Copenhagen, 15 man strong GenieBelt has reached over 2000 users since it’s public launch November 2014 and has users in over 100 Countries. GenieBelt co-founder Gari Nickson has a background in Construction and previously worked at consulting firms Aecom and Cowi. Cofounder and Chief of Product Bob Leung, previously founded and scaled construction document management platform “Woobius”.

About Klaus Nyengaard

Klaus Nyengaard is an early stage Angel investor with a deep focus on SaaS, workflow management software and digital marketplaces. He is currently involved and invested  in many high growth startups across Europe including Wahanda, Sekoia Assisted Living, The Cloackroom, PlanDay, ChurchDesk, Shipbeat and Tradano.

Formerly Klaus was CEO of Just Eat and scaled the company from 40 employees to 1000 over a period of five years.

–ENDS–