Colibidaethe Spanish FinTech platform behind the country’s first mortgage auction system, has successfully raised €400,000 in a seed funding round.
The funding round included follow-on investments from Demium Capital and angel investor Andreas Mihalovits, reflecting their continued confidence in Colibid’s potential and future prospects.
Alongside existing investors, OK Ventures, the venture capital arm of the OK Group, as well as numerous private investors through the public investment platform StartupExplorer, contributed to this round. This financial injection consolidates Colibid’s presence in the Spanish mortgage market and supports its ambitious expansion plans.
Colibid operates an innovative marketplace that has connected over 100,000 customers to 17 major banks and over 100 brokers across Spain since its launch in 2022. This platform provides Spanish families with seamless access to the best mortgage rates, facilitating a competitive bidding environment between lenders.
The new funds will be used to further develop the Colibid market and support the company’s international ambitions, including a new partnership in Mexico marking the start of its overseas expansion.
Alongside the funding announcement, Colibid announced the launch of Extracto.io, an AI-powered SaaS technology designed to transform document management.
Originally developed for Colibid’s mortgage services, Extracto.io can instantly process and convert a wide range of documents, such as images and PDFs, into actionable data. The technology is expected to benefit a variety of industries plagued by inefficient documentation processes, including logistics, insurance, and healthcare.
Colibid CEO Stefano Scardia highlighted the broader implications of their new technology, saying: “With Extracto.io, we see immense potential to address operational inefficiencies and scale in industries that require comprehensive documentation.
“Our technology is game-changing and we have expanded our sales team across the UK, US, Eastern Europe, West Africa and the Middle East, positioning Extracto.io for global growth.”
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