Trustoo, the platform for finding a local service provider, opens a new office in Berlin and strengthens its market position in the Netherlands and Belgium.
The Dutch venture capital investor No Such Ventures supports the ongoing growth of Trustoo by once again making a million-dollar investment in the company.
Amsterdam, August 15, 2023 - Venture capital investor No Such Ventures invests again in Trustoo, the platform for finding local service providers. With the multi-million investment, the Amsterdam-based scale-up opens a new office in Berlin and wants to strengthen its market position in the Netherlands and Belgium. Both parties are not disclosing further financial details about this round.
Two years after No Such Ventures took a minority stake in Trustoo, the latter has experienced substantial growth. For example, the Amsterdam service platform doubled the number of requested quotes to over one and a half million in a year, now employs over fifty people, and entered the German market. "We are very proud of this new investment, which underscores our trusted relationship with No Such Ventures," says Lars Freriks, co-founder of Trustoo. "Thanks in part to their previous growth capital and expertise, we have taken significant steps and found many matches between consumers and local service providers in all conceivable sectors, from contractors to marketing agencies and insurance agents. We are growing exponentially, so I have every confidence that we will continue this success after this interim round."
"We have enormous confidence in Trustoo and the qualities of Lars, Pieter, and the team. That's why we invest in them again," says Arjan Griffioen, investor at No Such Ventures. "Since our partnership, they achieve every goal and prove their business model time and again. I'm glad we're preparing them for the next phase with this financial boost and ongoing strategic support: expanding existing services in the Netherlands and Belgium and conquering the German market."
State by State
Trustoo tackles the conquest of the German market step by step, state by state, and service by service, under the name Trustlocal.de. Through this platform, consumers across Germany can compare lawyers and photographers; Trustlocal is already active in six branches in North Rhine-Westphalia. Pieter Westerhuis: "Germany is a massive market with a lot of potential, and we like to take our time for it. In all our markets, it's ultimately about finding the happy match between service providers and their customers. We increasingly act as a business engine rather than a lead generator for them. In this way, we not only create the best experience for the connected service providers but also for our users."
Trustoo connects the best local businesses with new customers. The website selects the companies and clearly maps out the characteristics and contact information of more than 80,000 local businesses. Visitors can see at a glance what local offerings there are and which company appeals to them the most. In this way, consumers don't have to search endlessly online for a service provider, and local players get a fairer chance. For more information, visit the website: https://trustoo.nl. In Belgium and Germany, Trustoo is known under the name Trustlocal.
About No Such Ventures
No Such Ventures is a rapidly growing pioneer in the Venture Capital landscape that offers flexible investments for investors and founders. The investor combines the added value of (angel) investors with the professionalism of a VC through its deal-by-deal model. No Such Ventures invests two to eight million euros in ambitious growth companies in various sectors and is supported by a committed and rapidly growing network of investors, entrepreneurs, and industry experts. For more information: https://www.nosuchventures.com