Formaloo, a Tallinn, Estonia-based no-code startup that provides a collaboration platform for professional teams to build business apps without coding, raised €2 million in seed funding.
The round was led by Change Ventures, with participation from Hyde Park Venture Partners, Mana Ventures, and Startup Wise Guys.
The funds will be utilized to ramp up marketing efforts in existing markets, as well as in the UK and Canada.
“We have one goal in mind. We want to democratize software development. Everyone can be a developer with Formaloo. With this investment, Formaloo will become a workspace hub, which enables business users to access their tools on one single platform and create any kind of application they want in a matter of minutes, not months,” says Farokh Shahabi, Co-Founder & CEO of Formaloo.
The Formaloo platform integrates with tools such as Slack, Google, and Microsoft, enabling users to easily create databases and add interfaces through a drag-and-drop approach.
Formaloo says more than 650,000 databases and business apps have already been created on the platform, and it has clients in the US, Germany, France, India, Australia, and South-East Asia.
Company: Formaloo
Raised: €2.0M
Round: Seed Round
Funding Month: July 2023
Lead Investors: Change Ventures
Additional Investors: Hyde Park Venture Partners, Mana Ventures, and Startup Wise Guys
Company Website: https://www.formaloo.com/
Software Category: No-code Collaboration Platform
About the Company: Founded in 2020 by Farokh Shahabi, Noosh Baratpour, Hasan Noori, and Amir Hashemi, Formaloo is a no-code collaboration platform that helps businesses create custom data-driven business applications and internal tools, automate their processes, and engage their audience. Formaloo allows businesses to collect, organize, and understand their data. The company serves clients in the US, Germany, France, India, Australia, and Southeast Asia, and its notable clients include Bolt, Meta, and McDonald's. Formaloo has cultivated a community of citizen developers, with over 25,000 active users actively participating in the platform's development process.
Source: https://tech.eu/2023/07/05/tallinn-based-formaloo-raises-2-million-to-expand-its-no-code-platform-as-it-makes-plans-to-tackle-the-uk-and-canada/