SUBSTAIRS PUTS THE ECONOMY ON AUTOPILOT IN COOPERATIVES, OWNERS’ ASSOCIATIONS OR LANDOWNERS’ ASSOCIATIONS
Problem
Most owner associations, cooperatives and landowners associations typically have three poor choices when it comes to managing the finances of the association. They can do it themselves (poor tools), employ an external accountant (paper-based and difficult to understand), or hire a property manager (no transparency, poor and expensive service).
Business
The solution comes as Software-as-a-Service with annual subscriptions. The plan is to operate with up to several product categories. The company has paying customers in all three customer segments.
Market
Substairs focuses primarily on owner associations, landowner associations and cooperatives. The total number of associations is estimated at just over 2 mill. associations in comparable countries. The market is growing and amounts to DKK +6bn annually in market value.
Solution
Substairs’ software combines and automates all workflows into one easy-to-use solution:
- Real-time financial overview – for the association and the individual owners
-
All documentation gathered in one place
- Full history despite changing ownership and 100% transparency for all owners
For the do-it-yourself people, administrative work is facilitated quite considerably. For the slightly larger associations, there are cash financial savings on the annual costs of property management and accounting.
External investors
De Linde Capital and a group of Business Angels.
Founded in 2018
Steffen Møller
Investment Manager
Mobile: +45 2264 5678
Email: sm@capnova.dk
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