Colibid Secures €400,000 Seed Round and Launches AI-Powered SaaS Technology, Extracto.io

Colibid secures €400,000 to drive its global expansion

Valencia, 19/09/2024 – Colibid, the innovative fintech platform transforming mortgage access, has successfully closed a €400,000 Seed Round. The round saw follow-on investments from existing investors Demium Capital and prominent business angel Andreas Mihalovits, highlighting their confidence in Colibid’s growth trajectory and vision for the future.

New partner OK Ventures (the VC investment arm of OK Group) also joined the round, alongside numerous private investors via StartupExplorer’s public investment platform. This new funding solidifies Colibid’s position in the Spanish mortgage market and supports its ambitious expansion plans.

“We are incredibly proud to have the continued support of our investors and excited to welcome new strategic partners on board,” said Stefano Scardia, Colibid’s CEO. “This round enables us to continue growing the Colibid marketplace, helping thousands of families across Spain seamlessly access the best mortgage rates. It also fuels our international growth, including our first partnership in Mexico as we begin our overseas expansion.”

Extracto.io: The new AI solution to optimize document management

In addition to the successful funding round, Colibid is thrilled to announce the launch of Extracto.io, a powerful AI-based SaaS solution designed to revolutionise document management. Extracto.io can read and process thousands of pages—regardless of structure or language—in seconds, converting any image/PDF into accurate data. This groundbreaking technology, initially developed internally for Colibid’s mortgage platform, is now poised to drive efficiencies across many industries including logistics, insurance, banking/finance, healthcare, and public administration where processing large volumes of documents has traditionally been a challenge.

“With Extracto.io, we see immense potential to solve operational inefficiencies and scale across industries that require extensive documentation,” Scardia added. “Our technology is a game-changer, and we’ve expanded our sales team across the UK, USA, Eastern Europe, West Africa and the Middle East, positioning Extracto.io for global growth.”

As Colibid continues to expand, the company is poised to offer cutting-edge solutions to both the financial sector and beyond, helping businesses operate more efficiently through innovative technology.

About Colibid

Colibid is a fast-growing fintech platform that launched Spain’s first mortgage auction system in 2022, connecting over 100,000 clients with 17 major banks and over 100 brokers simultaneously.

With a strong commitment to innovation, Colibid is expanding its reach into international markets whilst driving digital transformation through its new SaaS solution, Extracto.io.