Snapfix looks to raise up to €10m in new funding round

Irish start-up Snapfix, which has developed an easy-to-use software application that helps in the management and maintenance of buildings, facilities and equipment, is looking to raise up to €10 million in a new funding round.

The Dún Laoghaire-headquartered company has enjoyed considerable success with its app, with hotel chains such as Marriott, Hilton and Intercontinental among its clients. It also has customers operating in construction, airports, facilities and property managements.

Snapfix is a simple, photo-based platform for the maintenance and upkeep of buildings that operates similarly to WhatsApp in that it allows users to send images and messages relating to issues that need to be quickly resolved in areas such as housekeeping, cleaning and fire safety.

The company closed a €1.5 million seed round late last year, with backers including the Halo Business Angel Network (Hban) and is now embarking on a Series A round, which it intends to complete in two tranches.

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Award

Company founder Paul McCarthy, who established Snapfix in 2019, beat 29 businesspeople to be awarded the New Frontiers lead entrepreneur award last year after Snapfix took part in the Enterprise Ireland-backed programme.

Speaking to The Irish Times, he said Snapfix now has more than 100 customers in four continents, with 30 per cent of clients having been secured this year.

“The plan is to raise a Series A shortly and I’m getting the decks together for that now. We’re looking at raising €1.5 million in the first tranche and between €5 million and €10 million in total,” said Mr McCarthy.

“We’ve had our heads down and been busy building the product but now we need to tell the world about it. We are at 26 people currently but I can see headcount doubling next year as we add to our sales and marketing team in particular,” he added.