Copenhagen, 12 September, 2023
by Frederik Strøm Kristensen (Ejendomswatch).

Ambitious Danish proptech firm secures a new deal: "Overwhelmingly large interest"

YAVICA, a Danish proptech company, recently achieved a significant milestone by entering into a partnership with Landsec, one of the UK’s largest commercial property development and investment firms. The contract with Landsec is expected to drive a substantial portion of YAVICA‘s growth in the UK for the next couple of years.

Mads Pihl Sørensen, CEO and owner of YAVICA expressed confidence in the company’s growth prospects, particularly after attracting new customers in existing markets. YAVICA experienced a 42% increase in revenue last year, reaching DKK 67 million, largely due to the rapid expansion of its customer base to include residential property companies.

YAVICA’s previous collaboration with Microsoft has enabled it to extend its reach to more than 40 countries. While the company has been focusing on growth in the UK and the US in recent years, there has also been significant interest from the Danish market.

However, short-term debts have surpassed the company’s assets, leading to discussions with partners about additional financing. The company intends to secure a three-to-five-year facility to support its growth in the third quarter of this year. In the absence of additional funding, YAVICA‘s current credit facility and operational cash flows will maintain its ongoing activities.

The cost of acquiring new customers is something of a challenge because revenue from these customers may not materialize for several years. Nevertheless, YAVICA remains confident in its solid business foundation.

In the short term, the high cost of launching new products and expanding into new markets may be delayed. YAVICA has ambitious plans to establish its presence in German- and French-speaking countries, but these efforts may be postponed by approximately a year due to overwhelming interest in the UK and Scandinavia.

YAVICA acknowledges that it is crucial to strengthen its presence in existing markets before pursuing growth in new territories. With key partnerships in place, including with Landsec, YAVICA remains focused on reaching its ambitious goals.

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