Fast-growing proptech app business raises six figure investment for global expansion

MEGATREND INVEST and Vaekstfonden (the Danish state’s investment fund) invest six figures in the software company IOspect for international growth of the app DomuSpect – digital moving reports.

MEGATREND INVEST invests in IOspect and enters the group of owners. The investment is backed by Vaekstfonden, and the roadmap leads to expansion in the UK and Germany. IOspect developed the app DomuSpect – digital moving reports, and has become market leading in Denmark with one of the most restrictive legislations in the world. The app is already launched in the UK, and they enter the market with surprisingly affordable price points.

“We think that IOspect fits perfectly into our portfolio of investments, and their values are a huge factor in our continued collaboration. We find that there is a great synergy between MEGATREND INVEST and IOspect not least due to their team, their drive to expand to international markets, and their values of making the world a better place through sustainable digitisation,” says Steen Egsdal, CEO at MEGATREND INVEST.

During the last couple of months, the dialogue between MEGATREND INVEST and IOspect has shown that the two companies share common ground when it comes to ambitious plans for entering new markets and core values of making the world a better place through sustainable, digital solutions. IOspect develops software which makes paperwork digital – difficult and demanding tasks can now be done faster and with a higher level of detail, not least due to ease-of-use and convenience.

“As a result of COVID-19, we saw the opportunity of changing our business model from pay-as-you-go to subscription. The new business model focuses on subscriptions that are significantly more scalable, especially for international markets.”, and Jan Høilund, CEO at IOspect, continues: “Therefore, it is a huge advantage to have an ally in MEGATREND INVEST who can support our internationalisation. Both with capital, knowledge and experience.”

DomuSpect is available in the UK and the feedback from the market has been great – lately DomuSpect has been nominated for the Real Estate & Property Awards 2020.

_________________________

About MEGATREND INVEST

MEGATREND INVEST is a well-consolidated mediator of capital between investors who are looking for new investments, and start-ups and growth companies who are looking for capital. By diversifying the risks, the investors are guaranteed a solid return. MEGATREND INVEST performs investments based on 9 megatrends to ensure that the companies they invest in are responsible and sustainable businesses. Furthermore, they invest in sustainable products and solutions which focus on the 17 sustainable development goals.

About IOspect

IOspect has developed several apps for different industries but now, they are focusing on DomuSpect – digital moving reports which they are expanding across borders. DomuSpect is developed with landlords and property managers in mind as it helps them conduct moving inspections and create moving reports. When you download the app, you get 2 reports free of charge.

DomuSpect is expanding to new markets

There has been a boost in digitisation all over the world, and the demand for digital products is increasing rapidly. Especially due to the corona virus, which unfortunately has been the reality of 2020, digitisation of processes and products, as well as social gatherings, has gained momentum.

We have also experienced the growing demand for digital solutions. With our app DomuSpect – digital moving reports, we simplify and digitise moving in and out inspections. DomuSpect has been launched in an English version for the English market, and we are getting help with the process of exploring our opportunities in other potential markets. The regional Erhvervshus Nordjylland is a very good partner for us, but the Ministry of Foreign Affairs also has resources that we can use.

Last week, Özkan B. Köksal, who is the Chief Advisor of Internationalisation in the Danish Ministry of Foreign Affairs, visited our CEO Jan Høilund Christensen. Özkan is very competent in the field, and on top of that, he is also very kind. It is wonderful having such qualified and experienced sparring partners as we are discovering foreign ground.

Özkan and the Ministry of Foreign Affairs can help us gain access to Danish embassies in other countries. The people at the embassies are very competent and have an extensive knowledge about their countries. The embassies can establish a connection between DomuSpect and potential customers, as well as local marketing companies and consultants within the field. Throughout the process, Özkan can ensure that we get in contact with people who can help us in the different countries. This is due to his understanding our our company, but also his understanding of and insight into the competencies and opportunities the embassies have.

We look forward to launching DomuSpect all over the world!

What a summer! What a year!

At the beginning of 2020, we gradually started building DomuSpect version 4.0, and DomuSpect was being built on a new platform – a cross-platform. An app built on a cross-platform works on multiple platforms, and in our case, this means both Android and Apple devices. Building the app on a cross-platform was a huge and time-consuming task, but it will be very advantageous in the future!

The first DomuSpect app was built in two different versions – one for Android devices and one for Apple devices. Thus, every time an update or improvement was made, large or small, it had to be made on both platforms. This process was both time-consuming and expensive, and our hope for the new app was to optimise that process.

The two platforms were demolished, and our skilled developer Jonas Lykke – the young man in the picture – started building the app from scratch on the cross-platform. Naturally, we have all of the experience from the previous two versions in mind!

Then the corona virus spread! Need we say more?

Therefore, we have worked hard – in particular, our developer – and just in time for the summer holidays, we succeeded! The brand new DomuSpect 4.0 was released! This is our biggest update so far, and we, and our developer, have been working intensely for so long! We can proudly present the app, and after some teething troubles, the app is fortunately on its way to become an “adult”.

With DomuSpect version 4.0, we also decided to expand to the English market. Luckily, DomuSpect has been received very well! In Germany, there is a need for our digital moving inspections, and as a result, we are looking at the possibilities of expanding even further. So, DomuSpect, and us, are expanding! Here we come! Hier kommen wir!

This handsome, young man is our talented developer Jonas Lykke – with DomuSpect 4.0 finished.

DomuSpect 4.0 is ready for download

We are very happy that DomuSpect version 4.0 is ready for download – both in App Store and Google Play Store!

Thus far, DomuSpect 4.0 is the biggest update, and we have spent a lot of time trying to make digital moving inspections both better and easier.

A new feature in version 4.0 is the possibility of reusing the data from a moving in inspection for a moving out inspection, online backup and flexibility between Android and iOS devices.

Additionally, we have changed the user experience to make it easier to create moving inspections, and added new ways of using the app. We’re hoping that the new app is received positively by our dedicated users.

But let us take a look at the most important updates in version 4.0:

New features in version 4.0

  • You can sync all cases and their content across platforms.
  • You can sync and backup photos.
  • You can edit photos after they have been taken or selected for the report.
  • You can receive push messages.
  • UK version of the app – and much more  

Changes in version 4.0

  • UI Overhaul.
  • UX Overhaul.
  • Registration for electricity supply: Forwarded by API instead of email.
  • Possibility of colouring the blueprints.
  • Complete conversion of the app to the new platform.

NOTE: As a result of the conversion to the new platform, all of your old cases, including content, will be deleted unfortunately. Did you forget to backup all of your old cases before you updated the app? If so, check the ‘sent’ folder in your email. Most likely, you have sent all of the moving inspections to the tenant, and therefore, you might be able to find them unless you have deleted the emails in your ‘sent’ folder.

If you have purchased any cases (which you need to make inspections), these will be transferred to the new app.

Your user from the old app (your login information) also applies to the new app.

DomuSpect 4.0 – important information!

DomuSpect 4.0 is on its way, and we are looking forward to launching the app!

A new feature in version 4.0 is the possibility of reusing the data from a moving in inspection for a moving out inspection, online backup and flexibility between Android and iOS devices. There is much more which will be elaborated later 🙂

But, most importantly:

Save all of your old moving reports on your computer or some kind of storage media before you update the app!

DomuSpect 4.0 is launched on 8 July which means you’ve got time to save all of your old moving inspections.

Version 4.0 is the biggest update so far, and unfortunately, this means that all of your old moving reports will be lost when you update the app.

Therefore, you might benefit from backing up your old and finished inspections. Actually, we recommend that you always backup your inspection reports.

The easiest way to make a backup of your cases is to forward them to yourself. Tap the PDF icon, press send’, and forward the moving inspection to yourself as an email.

Do you want help or more information? Call us on +44 2039 361288, write to us at info@iospect.dk or catch us on the chat at https://domuspect.dk/

In return, we promise that you get access to a lot of new features in the future. We will elaborate on this when we’re closer to launching the app.