Digital signatures proptech raises $2.5 million

Proptech startup FLK it over has raised $2.5 million as it looks to expand beyond real estate with its electronic document signing solutions.

Former real estate agent Andrew Colagiuri founded the startup in 2016, setting out to make administrative tasks, such as tenant signing, less cumbersome.

He previously raised $2.13 million in 2022 from the likes of Charter Hall founder David Southon who doubled down in the new round, along with Bilgola Capital.

FLK it over now has 24 staff and will use the capital to expand in Australia and beyond real estate into sectors such as law, financial advice and accounting.

Colagiuri said their e-signature solution makes time-consuming paperwork simple and seamless .

“The real estate industry is one in which every process you want to perform ends with a signature, whether it be hiring, leasing, selling or buying,” he said.

“We have ensured we deliver a powerful platform that is simple to navigate and use. We also spent significant time on the client experience to facilitate a clean and seamless process on a mobile device. For us, it’s important to not only provide a phenomenal experience for the agent, but their clients too; it’s something we care deeply about.”

Colagiuri said they are already seeing traction in sectors outside real estate, especially with SMS delivery

“It’s a division of the business we expect to see significant revenue growth over the next 18 months,” he said.

“Our formula is a simple one: continue to identify pain points in agents everyday work life, use tech to solve them, and ensure it enhances the end-user experience.

“The platform’s growth statistics underline its success, with more than 700 real estate agencies , including 4500 property managers as clients. More than 30,000 documents are signed every month, with 16,000 of those are residential leases.”

Investor David Southern said that he was impressed with the seamless, digital approach to signing and managing residential lease documents.

“I invested initially with the view that FLK it over could be a very powerful and useful leasing tool to assist in the emerging build-to-rent sector,” he said.

“Given his real estate background, Andrew has a deep understand the problem that FLK it over is working to solve, with a focus on an innovative e-signature solution that offers a smart, highly efficient and seamless experience across multiple devices.”

Clinton Capital Partners principal, Randolf Clinton, who managed the capital raise said the startup solved real bottlenecks for the property industry.

“Andrew is one of the few founders we have met who can not only articulate his vision but has executed on this vision in a systematic way, as illustrated by his consistent MoM growth since inception,” he said.

“Clinton Capital Partners sees more than 700 companies each year and FLK it over has certainly been a stand-out which has allowed us to deliver host of strategic investors to his share register.”