The fintech startup Colibid has announced the successful closure of a €400,000 seed funding round, as well as the launch of their new AI-powered SaaS technology, Extracto.io. These developments mark a significant milestone in the growth trajectory of the Valencia-based company.
Funding round strengthens Colibid’s position
The funding round saw participation from existing investors such as Demium Capital and renowned business angel Andreas Mihalovits. Additionally, a new strategic partner, OK Ventures, the venture capital division of the OK Group, joined in. The public investment platform StartupExplorer also facilitated the participation of numerous private investors.
Stefano Scardia, CEO of Colibid, expressed his satisfaction with the support received: “This new funding allows us to continue our growth in the Spanish market, helping thousands of families access the best mortgage rates. It also drives our international expansion, including our first partnership in Mexico.”
Extracto.io: Revolutionizing document management with AI
Parallel to the funding round, Colibid has launched Extracto.io, an AI-based SaaS solution designed to optimize document management. This technology is capable of processing thousands of pages in seconds, regardless of their structure or language, turning any image or PDF into precise data.
Originally developed for internal use in Colibid’s mortgage platform, Extracto.io is now positioned to enhance efficiency in various industries such as logistics, insurance, banking, finance, healthcare, and public administration.
Scardia highlighted the potential of Extracto.io: “We see immense potential to address operational inefficiencies and scale in industries that require extensive documentation. Our technology represents a radical change.”
Global expansion and future outlook
In view of international expansion, Colibid has expanded its sales team in the UK, US, Eastern Europe, West Africa, and the Middle East. This strategy aims to prepare Extracto.io for large-scale global growth.
The company, which launched the first mortgage auction system in Spain in 2022, has connected over 100,000 clients with 17 major banks and over 100 brokers simultaneously. With these new initiatives, Colibid reinforces its commitment to innovation and positions itself as a key player in the digital transformation of the financial sector and beyond.