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AscendixTech is a proptech software development & consulting firm originally from Dallas, where almost 3 decades ago it was set up by two lifetime friends, Wes Snow and Todd Terry, who were driven by the idea of automating business processes in the historically under-digitized real estate industry.
Today, we are still very much committed to this goal, but on a much larger scale – both geographically and in terms of the proptech services we offer. The push to success for us was tapping into the Europe proptech scene by setting up outsourcing offices in Luxembourg, Poland, Portugal, as well as Ukraine – the first destination in our outsourcing story.
Each of these locations has opened up an immense array of opportunities to enhance our proptech software development capabilities and deliver cost-effective solutions for clients. But let’s have a look in more detail at how outsourcing to these countries add value to proptech firms, Luxembourg first on the list.
The second smallest country in Europe, proptech Luxembourg is probably not the first destination that comes to your mind when you think of proptech software development outsourcing. However, there are plenty of reasons how offshoring to this country can benefit your proptech initiatives, just as it did with ours.
We set up a proptech office in Luxembourg in the early beginning of 2022, but at the time we had been already doing business with our clients there, one of which was a longtime partner of ours – Flibco – one of Europe’s biggest transportation companies offering shuttle services. We developed a booking application for them and are still supporting their technology needs.
Read the whole case study to find out how our partnership evolved over the years.
So, what are the reasons that drew us to the Proptech Luxembourg scene?
Considering the above, our presence in Luxembourg can potentially benefit our clients in the following ways:
As mentioned above, proptech in Luxembourg is booming and the reason (or maybe a result) of this growth is a big pool of VC funds focusing exclusively on proptech and propelling the innovation forward by investing in promising startups that strive to offer new ways of how real estate transactions are executed.
Husqvarna VC Fund focuses on shaping green spaces and urban environments through user-centered and sustainable solutions. With a passion for innovation, they invest in proptech startups with expertise in Internet of Things (IoT), Apps, and proptech Software-as-a-Service (SaaS). Their portfolio highlights include Moleaer, a nanobubble generator for efficient gas injection; GAMMA AR, a construction app using augmented reality for improved building processes; and Soil Scout, offering advanced soil monitoring solutions for agriculture and sports turf maintenance.
Extantia Capital invests in renewable energy, energy, and solar startups. With a commitment to sustainability, they support innovative solutions in the green energy sector. Their portfolio includes MAGNOTHERM, developing next-generation cooling systems; Luminescent Solar Power, offering super-efficient, low-cost waste heat engines; and RepAir, which develops a Direct Air Capture system for large-scale CO2 capture using renewable energy.
Microsoft Climate Innovation Fund is committed to investing in software, renewable energy, and energy startups. With a focus on sustainability, they support innovative solutions addressing climate change. Portfolio highlights include Mitiga Solutions, mitigating risks from climate-driven perils; AMP Robotics, developing scalable robotic systems for smart recycling; and BlocPower, providing all-electric heating and cooling solutions with energy-saving incentives.
Rise PropTech Fund is a venture capital fund dedicated to supporting late-seed and Series A startups in the PropTech sector. Their investment focus lies in SaaS, Software, and Scheduling. Noteworthy investments include TEAMOTY, a cloud-based Schedule Management Platform for the Construction Industry, and Leko Labs, accelerating the transition to carbon-negative construction with AI-optimized building materials.
Benoit Schaus is a Partner at Deloitte and an angel investor. He specializes in investments related to SaaS, Software, and Real Estate. Benoit Schaus has a seed investment focus and is actively involved in the Luxembourg startup ecosystem. One of his portfolio highlights includes kodehyve, a B2B management software that streamlines workflows and enhances transparency in the real estate industry through a powerful multi-sided collaboration platform.
A few years ago, we made the strategic decision to establish an office in Porto, Portugal to enhance our CRM consulting services. Although our office primarily focuses on Salesforce and business automation rather than proptech exclusively, we quickly recognized the significant potential for proptech growth in Portugal.
The Proptech in Portugal is just unfolding, with scores of foreign buyers, the property prices. Demand for real estate services has strengthened and fueled a demand for proptech players. There are some very interesting startups working in proptech in Portugal. Just take Casavo for example – a startup that is among Europe’s largest iBuyers and has raised over €400m to date in equity and debt from the likes of Goldman Sachs, Greenoaks and Exor seeds. Other notable proptech startups in Portugal include:
Infraspeak – software for facility and asset management, leveraging advanced web, mobile, and IoT technologies to improve control and productivity. The startup received €1.6 million in funding for international expansion.
Overall, Portugal became a worthy destination to further extend our real estate software development capabilities for us and may become one for you because:
In the year 2022, we also set up a proptech development center in Warsaw, Poland. This decision was swift but apparently correct and was made following the full-scale invasion of Ukraine, where our first software development office was established a decade ago.
We had to act swiftly. Poland was an area we had previously considered when establishing our CRM practices center in Portugal. Poland, much like Ukraine a decade ago, remains an untapped market with significant IT outsourcing potential, competitive rates, and skilled tech resources.
Poland offers compelling reasons for considering proptech outsourcing:
Apart from that, Poland has a vibrant proptech community led by ProptechPoland.org and Proptech Foundation Founders Board. While the former one serves as a platform for proptech firms and startups, the latter unites the most impactful managers and experts representing the CRE industry across the country.
Amidst the war, our journey with Ukrainian developers has been one of resilience and determination. Nearly a decade ago, we saw the untapped potential in Ukraine’s IT services industry and set up an office for software development. As we transitioned to proptech, the collaboration only grew stronger, and the war did little to deter the dedication of our Ukrainian team.
Many of our developers have moved to safer locations in Western Ukraine, while some have relocated to our Western European offices. Despite the challenges posed by power outages and constant danger, our team meetings remained largely uninterrupted, and client projects were unaffected. The professionalism and loyalty of Ukrainian developers have been crucial in ensuring continuity.
The IT industry in Ukraine has shown remarkable flexibility and adaptability, making efforts to provide stable internet access and keep operations running smoothly. Despite a decline in new vacancies during the war, the majority of software developers returned to full-time work, demonstrating their commitment to their craft.
Amid the changing landscape, Ukrainian developers are actively seeking new projects, presenting an opportunity for companies to benefit from lower rates and access to highly skilled personnel.
Why Hire Ukrainian developers for proptech?
Despite the significant changes, we have taken measures to honor our commitments to clients and secure existing contracts:
Amidst the challenges of war, our partnership with Ukrainian developers remains strong, demonstrating their resilience and dedication to their craft, even in adverse circumstances. As a company, we stand in solidarity with Ukraine, and together, we continue to navigate through these trying times.
At AscendixTech, we take great pride in being a go-to proptech partner in Luxembourg and Europe. Our decision to establish offices in Luxembourg, Poland, Portugal and Ukraine has allowed us to tap into the immense potential of these markets.
Luxembourg offers an attractive investment climate, a vibrant proptech community, convenient time overlap with Europe and the US, and strong English language skills.
Portugal and Poland, on the other hand, provide emerging proptech markets with competitive costs, abundant IT professionals, favorable time zones, and cultural proximity to Western Europe.
With this unique blend of multigeographical presence and expertise, we are able to provide the best possible rates for our clients for the best curated proptech development services. You can also benefit from our varied engagement models, giving you the freedom of choice on how close you’d like us to be involved in your project.
Contact us today for a free estimate and discover how AscendixTech can propel your proptech initiatives to new heights.
We’re at your service with 20-year expertise. Just fill in the form and we’ll send an estimate.
Alina is a proptech technology expert and a storyteller at Ascendix, investigating the real estate market and sharing her insights and tips with up-and-coming proptech startups, established real estate agencies, and industry stakeholders. She talks about real estate technology, business automation, and industry news.
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