H1 2022 Results and Next Steps

Now that we have finished the second quarter of 2022 it is time to see what Trustiu has achieved during this period. In this post I want to show you not only our results but also to talk about some news that we are eager to share.

Summary:

1. 2022 results and Trustiu’s evolution

2. New partners and capital raise

3. New members in our team

4. Next steps

2022 results and Trustiu’s evolution

Without further ado, these are our numbers:

In the first two quarters of 2022, Trustiu achieved a GMV (value of properties sold on our marketplace) of €1,321,771, which represents a growth of +62.37% compared to the whole 2021, that is, in 6 months we have already sold more than the entire year of 2021. Compared to the same period of 2021, we have a growth of +127.07%. The same goes for our revenue. We've been growing at double digits every year for as long as we've been around and that's guaranteed to happen this year. In fact, this year we expect to grow at 3 digits. In 2022 we have sold 58 properties, which puts our total at 336 digital properties sold since we have been in the market. Our AOV (average value of properties sold) in 2022 is €22,789. In short, we slightly exceeded our business plan for these first two quarters and that makes us very proud.

New partners and capital entry

At the end of 2021, Trustiu made a capital raise of €500,000. Although this information is public, we had not yet disclosed it. And the reason is simple, we are too focused on results and executing our business plan. However, this news deserves to be shared, especially by the new partners who have joined our company. In this round, 3 new VCs entered to our cap table and once did a follow on. The new entries were Inveready, BStartup de Banco Sabadell and Abac Nest. Bonsai Partners was already our partner and decided to do a follow on. Also worth mentioning is that one of our business angels, Juanjo Mostazo, who has been with us since the beginning and has once again supported us in this round. The entry of this new capital into Trustiu made it possible to achieve the following two points.

New members in our team

For those who don't know, in 2019 when I launched Trustiu, I had the support of several friends to put the site online, but from the moment I launched the site, all operations were done by me. In due course I will write about the madness that these days were. Until the end of 2021, Trustiu's permanent team was only 3 people, which may surprise you. At the moment we have a team of 10 incredible professionals dedicated full-time to our project. I couldn't be happier with the team we are building and here are our faces.

Next steps

This is perhaps the point that I have the most enthusiasm to share. This quarter we will launch our new platform. Until now, all our processes have been extremely manual, which on the one hand allows us to have control over all points and at the same time provides a  customer support that we consider excellent (and which we will not lose), but on the other hand, does not allow us to be faster in certain aspects fundamental to our operations. Therefore, on our new platform our customers will be able to register, they will have a private area where they will be able to see all their purchases and sales, they will be able to interact not only with our team, but also with buyers and sellers. And above all, they will be able to make a purchase or reservation of a property in a much faster and more automated way. On the other hand, we are building new property valuation algorithms that are much more complex than the current ones and that will allow our sellers to know the value of their properties faster and more accurately.

For all this, many thanks to all our clients and partners.

Do not miss the next chapters.

Nelson Ferreira

CEO