SeedBlink Blog

Milluu is an end-to-end digital platform that simplifies the process of renting a property, taking care of every step. The solution is used by landlords who can rely on Milluu throughout the entire rental process and tenants that can quickly find an apartment that meets their needs. Once an agreement is reached, both parties can track payments, utilities and communication through the Milluu platform.

We talked with Florin Stoian, the co-founder and CEO of Milluu and found out more about the startup and their solution.

Hello Florin, it's good to talk to you! Thank you for sharing with us more about Milluu’s growth and the new financing round.

This is Milluu’s second round on SeedBlink. Can you tell us how the company has been evolving since the previous round? What about the traction?

Yeah, since our past round a lot of things have changed in our business line. We changed the positioning of our business model. If last year Milluu was a lease-sublease contract with the owners, the new model stands having a mandate from the same owner to represent his apartment, rent it and manage it during the rental time. In this way, we have no liabilities and act like a technological platform to him. At the same time, we added the “partners” with their own app and service. Together with this development, we have closed the entire funnel on renting an apartment. We have the owner who has the assets, the tenant with the need and the partner that is doing the offline processes like visits, handovers, etc. In this way, Milluu is a more scalable product and reach the need of all players involved.

In terms of traction, we passed over 200 apartments that use and are under our management platform and reached almost 15.000 euro MRR.

How did you decide it’s time for a new round?

Seeing that the new business case is finding a good fit in the market with proven results, the scalability, also having been accepted into a polish government program to deploy our service in Poland, decided to make the step and prepare a new bridge round.

What are the plans after closing it?

The plans are quite straightforward, we want to accelerate our growth, by launching 2 new cities in Romania, Cluj & Iasi, followed in the autumn by Warsaw together with the Polish partners. Our goal is to reach in H22023 a MRR of 50K and prepare the company for a Series A and covering the top cities in Romania and Poland.

Could you tell us a bit more about your current customers and how they are using Milluu?

We have 2 types of customers, owners and tenants. On the owner’s side, we speak about the people that own 2-3+ apartments and need to have a digital solution that covers all their needs and I refer to payments guarantee, the waste of time, predictability of their incomes, real-time data about the utilities, etc. On the tenant’s side is simple, Milluu offers them a unique digital tool from where they can book a visit, rent a curated apartment, sign the e-lease and have all payments in one tap in their pockets.

Because with Milluu both of them have a unique solution that covers all their needs.

You are planning to enter Poland. Why this country?

The Polish market is very close to the Romanian one in terms of habits, competition, and technology penetration, but also a more mature market in terms of regulations, funding and so on. Also being accepted and taking an equity-free grant of 60.000 euros from the polish government was a good incentive. Nevertheless, the polish partners that support our expansion really believe in our product and in the fact that together we can deliver a quality service to the polish customers.

Interesting! What challenges do you see in this new market entry?

Challenges are all over the place, because the real estate space where we act is an obsolete one, with a lot of pains and a lack of technology. But making small steps, and understanding the people’s needs, their habits we will be able to deliver a very good value to them.

Where do you see Milluu in the next 3 years?

Milluu in the next 3-5 years should be a regional player in the CEE Region. The potential is great, rental markets will heavily grow in the next years and we will have a part of it.

Why should investors have you in their portfolio?

Investors will be part of the change and together will make great things. Real estate is one of the last industries where technology didn’t enter so well, is almost a virgin market. If you rely on the current situation the single thing that you can make nowadays in these marketplaces is to make and receive a call, that’s the single technology, unfortunately. With us they will reshape this space and become pioneers in our space and will win together.

Learn more about this investment opportunity.