Norwegian proptech Plaace receives €885K for Nordic expansion and tech-driven retail evolution

Oslo-based proptech startup Plaace has secured €885k in funding, with RunwayFBU leading the investment round and support from existing investors OBOS and Blommenholm Industrier, along with €177K from Innovation Norway. Plaace specializes in providing user-friendly decision support for the less digitized retail industry and saw impressive growth in 2023, tripling its revenue and expanding its commercial team. The funding will be used to fuel the company’s plans for scaling up operations in the Nordic region, helping Plaace meet the growing demand for its data-based solutions in the changing retail landscape.

Plaace operates as a proptech company, utilizing data and innovative solutions for the benefit of Commercial Real Estate (CRE) companies, retailers, and CRE brokers. The company’s focus is on providing practical applications of data analytics to help clients shape effective strategies, find suitable locations and tenants, and encourage collaboration within the industry. Plaace emphasizes unlocking the latent potential of commercial properties through thoughtful analysis, offering clients the tools to strategically optimize their assets. The company is committed to creating conducive conditions for tenant success, relying on precise, data-driven insights. In the realm of proptech, Plaace seeks to contribute to the evolution of the commercial real estate industry by leveraging technology and strategic approaches.

Snorre Jordheim Myhre, CEO and co-founder of Plaace, said to EU-Startups: “This is a vote of confidence in the work we have put in during 2023 and the results it has generated. With this capital, Plaace is even stronger in the ongoing commercial scaling, ensuring that we continue to deliver value to our customers across the Nordic region.”

Hanna Selvaag Wangsmo, Investment Manager at RunwayFBU, commented: “Plaace offers decision support in a user-friendly way to a less digitized industry. This aligns well with our investment strategy in RunwayFBU, utilizing data to improve processes and structures. The team already has tremendous execution capabilities, and we see significant international upside.”

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