Belgium’s Vertuoza raises €4 million in pre-series A

The Belgian construction software company Vertuoza has raised €4 million in its pre-series A founding round. The round was led by French investment fund XAnge, who were also leading investors in Vertuoza’s seed round, and the Belgian-Dutch fund Fortino Capital. 

Vertuoza’s is a complete software package for construction contractors. Founded in January 2020 by Antoni Filippo, Dominique Pellegrino, Kevin Vermeulen, the start-up experienced rapid growth from the offset claiming ‘to almost triple Vertuoza’s recurring revenue (ARR) in one year, reach the €1 million mark early 2022 and continuously break new monthly sales records’.

These latest funds will be put towards recruitment and accelerating the international growth of the company, they have already entered the French, Swiss and Luxemburg markets with over 3000 platform users. 

“Despite the high interest for a large round from multiple European and US investors, we believe it makes more sense to go for this fit-for-purpose pre-Series A round allowing to continue our high-speed growth while building shareholder value. This round will enable us to optimally prepare for a large Series A round with the international funds that have already placed us on their radar,” said Dominique Pellegrino, co-founder and CEO of Vertuoza.

"The Vertuoza model is very predictable and therefore attractive for investors - with its commercial efficiency perfectly under control, its costs always close to balance and an impeccable product-market fit, meets the expectations of investors in 2022,” said  Cyril Bertrand, managing partner of the XAnge fund in Paris.

"Our passion is to help ambitious founders seize opportunities that allow them to continuously accelerate their growth in a rapidly changing market. After Doctolib in the medical world, Toast in the US and Sides in the EU restaurant industry, and Salonkee in the beauty sector, we are convinced that Vertuoza can take the lead in the digitalisation of the SME construction market in Europe,” adds Filip Van Innis, Investment Director at Fortino Capital.