Movesta in a SEK 85 million capital increase backed by angel investors from Sweden.

Movesta, a Stockholm, Sweden-based startup builsing a tech-based real estate company, secured a SEK 85 million ($10M) capital increase.

The money was raised from local investors from Sweden, including Soundtrap founders Fredrik Posse and Per Emanuelsson and Jonas Siljemark who is former CEO of Warner Music.

Movesta, founded in 2020 by Micha Lindqvist, David Wedar, Anders Huss and André Brännmark, built a web-based service using software to provide cost estimations for real estate properties. The company also acts as a marketplace as it gets involved in buying and selling the properties - based on the customers data, Movesta provides a quote within 24 hours. If the offer is accepted, Movesta buys the home. The service produced roughly SEK 26 million ($2.9M) at the end of 2020.

Movesta previously raised capital in the second part of 2020.