Polaroo was founded in 2017 and operates an app that centralizes and optimizes consumers' payments and related administrative procedures. The app began operations in late 2018 after piloting several business models and charges customers €2 per month plus a commission to providers for each acquired client. Polaroo has closed agreements with Holaluz and Gana Energía and is in talks with Homeserve, with plans to add more gas and electricity providers as well as insurers and mobile operators. The company has 14 employees and recently hired Jordi Creixell to lead sales and Rainer Schwartz as CFO. It reports 60 active users and expects about €20,000 in revenue by year-end. Funds from the latest round will be used to improve the product, onboard additional insurers and mobile operators, and expand the team. Polaroo is a Barcelona-based app that manages payments, invoices and incidents for household services and lets customers pay a fixed monthly fee to avoid cost fluctuations. The app began operations in late 2018 after testing business models and charges users €2 per month plus a commission to service providers for each acquired customer. The company has closed deals with Holaluz and Gana Energía and is in talks with Homeserve and other gas and electricity providers to broaden its service offering. At the time of the report Polaroo had 60 active users, employed seven people, and expected to finish the year with about €20,000 in revenue. Polaroo won the BBVA Open Talent prize and was a South Summit finalist. The company is also pursuing an EU aid package of €500,000.

Total raised

$1M

Funding rounds

2

Latest round

Equity

Latest activity

Sep 2019