Home renovation platform FoxDo raised €500,000 to accelerate growth
FoxDo helps homeowners find contractors for improvement and remodeling projects with a few clicks and reduces paperwork and contracting risks from both parties.
In 2021, FoxDo was used in over 1000 renovation projects with numerous happy customers placing multiple orders. "We were able to prove the product-market fit last year, and sought additional growth capital to expand the service to new markets faster", Saajoranta continues.
Multiple growth investors share FoxDo's vision and participated the investment round with a total contribution of 500,000 euros.”We are really proud of the trust investors have shown us. Making a breakthrough is totally in our own hands. We will make FoxDo the most popular sales platform for renovation in Finland and then take it abroad”, says Rami Saajoranta, the CEO of FoxDo.
Thus far, the FoxDo service has been available in the Helsinki metropolitan area only, and the new funding enables expansion to new cities in Finland and Estonia and well as longer-term internationalization planning. The Covid pandemic has increased the demand for renovation services, and the company anticipates continued growth in 2022 and beyond.
There is a blind spot in the renovation market, FoxDo turns it into a possibility
Traditionally homeowners have had to rely on word-of-mouth recommendations and professional renovators have found work through the grapevine and other unofficial channels.
”These two observations led to the founding of FoxDo, the TripAdvisor of renovation”, Saajoranta explains the background of the company.
FoxDo serves both homeowners and professional renovators. Homeowners can find plumbers, electricians, and painters, and other professionals, compare the rates, availability, and ratings to select the best service providers for their home improvement project. On the other hand, service providers use the platform to promote their services to masses in a cost efficient way. The platform provides a scheduling function to manage timeline expectations both ways, and the rating system provides transparency and therefore improves the quality of delivered work.
”The blind spot of the renovation market has been that supply and demand don’t meet. Our platform brings them together. FoxDo helps homeowners to make informed choices and professionals to price their work according to their expertise, availability, and feedback. Newcomers can compete with prices and seasoned veterans with quality”, Saajoranta describes the benefits of the service.
FoxDo makes self-employment easier
The renovation industry employs a large number of small companies as well as self-employed professionals. Unfortunately, the quality of the providers can vary a lot.”With FoxDo, the service comes with a guarantee, which mitigates risk and lowers the threshold to order small improvement projects,” Saajoranta continues. ”For professionals, our service decreases paperwork and contracting risks. FoxDo makes it easier for people to enter the industry and focus on the renovation work itself”, Saajoranta sums.
More information
FoxDo Oy
Rami Saajoranta
Co-Founder and CEO
+358 40 510 3058
rami.saajoranta@foxdo.fi
About FoxDo Oy
Finnish startup FoxDo was founded to build a service platform that brings homeowners and renovation professionals together. FoxDo platform digitalizes the sales process of the professionals. For homeowners it offers a way to choose and order professionals based on their price, availibility and feedback.