Home upkeep platform Smart Reno received

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Montreal-primarily based Smart Reno, a home maintenance platform that connects customers to maintenance contractors, has been obtained via RBC Ventures, the Royal Bank of Canada’s investment arm. The phrases of the purchase have been no longer disclosed.

Smart Reno’s platform ambitions to simplify estimating preservation prices and inquiring about costs from renovation experts. RBC Ventures stated Smart Reno will now be able to gain access to the property and sources it desires to scale its operations across Canada, make the talents of its platform, and improve the consumer experience.

“RBC Ventures is shifting beyond banking to create solutions that support Canadians via each degree of their domestic journey,” stated Simon Maycock, VP and head of home solutions at RBC Ventures. “Our portfolio of ventures already allows Canadians to hire, purchase, move into, and preserve a domestic, and now we’re assisting Canadians to improve their domestic.”

Based in 2012, Smart Reno raised $500,000 from numerous angel investors in Quebec in 2013. In 2015, Smart Reno raised $1.6 million from angel investors Martin-Luc Archambault, Daniel Robichaud, Mike Cegelski, Pierre Fleurent, and the Anges Québec Capital Fund. That equal month announced the acquisition of nearby competitor Commission, which also helped owners find home improvement contractors in Quebec.

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“After building and growing Smart Reno over the last seven years and accomplishing a leadership role within the markets in which we operate, becoming a member of RBC Ventures will allow Smart Reno to significantly enhance how home renovations are finished at scale across Canada,” stated Andrei Uglar, founder and CEO of Smart Reno.

“With our shared task of simplifying and improving Canadians’ lives through extraordinary customer stories, we are pleased to work with RBC Ventures to take Smart Reno to new heights and make a meaningful effect within the domestic improvement enterprise,” he said.

Through Smart Reno’s platform, purchasers can submit their protection requirements, and Smart Reno provides loose referrals to contractors who are qualified and interested in the assignment. Its matching procedure goals are to perceive the most becoming neighborhood contractors for a given challenge. The company has additionally evolved a lead control software program for home improvement stores to control set-up offerings.

“Canadians spend almost $80 billion a year on home protection tasks. However, the experience is still painful, inefficient, and lacks agreement and transparency,” stated Maycock. “We see a brilliant opportunity to transform the home improvement enterprise and assist in delivering peace of thought and differentiated value to each client and preservation expert with Smart Reno.”

In the closing year, RBC has upped its activity inside the startup area, launching RBC Ventures to co-create and invest in startups and an accelerator with Highline BETA, closing in June. RBC announced a partnership in August with Espresso Capital to target Canadian tech groups looking for debt financing, which had supplied non-dilutive funding to 230 businesses when the partnership was introduced.

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