Turkish local services marketplace Armut.com has now merged with Italy-based ProntoPro and the new company has raised €15 million to strengthen its position in Europe. The round was led by ProntoPro’s investors. Armut has earlier raised investments from European venture capital firms, including Hummingbird and Addventure.
Fuelled by remote work and the new lifestyle triggered by the pandemic, European online local services have seen significant growth during the last two years. Most of the customers have started to look for online ways to improve their homes and personal needs. This has helped to accelerate the growth of local services marketplaces like Armut and ProntoPro.
Founded in 2011, Armut operates in 8 countries with 2 brands in the EMEA region. The e-commerce player has more than 700,000 service providers in 4000 categories. Armut's all-in-one local services platform offers a range of local services from getting your home painted, and finding a math tutor for your child to finding an online psychologist.
Founded in 2015, Milan-based ProntoPro aims to match customers and local service providers. The company currently operates in 5 European countries with over more than 5 million customers.
According to Armut co-founder Başak Taşpınar Değim, the new funding will enable the company to triple its investment in product and headcount, expand services across all European markets, and pave the path toward this new company becoming the clear leading local services marketplace in Europe.
Armut co-founder Erol Değim said: “Our vision and the way we develop the product is very similar to ProntoPro. By joining forces together we’ll accelerate growth and we’ll continue to create solutions for our customer's service needs.”