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Belgian Legaltech with a Social Cause
Company Overview
Roov is a pioneering impactdriven legaltech firm based in Ghent and licensed by the National Bank of Belgium (PSD2). Roov has developed a comprehensive SaaS platform designed to streamline and enhance the operations of debt mediators, social service providers, and social housing organizations. The company stands out as Belgium’s first legaltech solution aimed at fostering a digital connection between professionals and individuals in this sector, thereby enhancing the efficiency and perception of budget guidance, debt mediation, and social housing services.
In 2023 Roov has won the Trends Impact Awards for Diversity & Inclusion.
Market Problem
Across Europe, over 26% of individuals are in debt, with the issue of financial insolvency escalating. Approximately 15 million Europeans are under guardianship or debt mediation. However, support for this demographic is inadequate, largely because debt mediators and guardians are overwhelmed with administrative tasks, leaving them little time to address the core issues facing their clients.
Solution
Roov introduces an innovative end-to-end SaaS platform for debt mediators and their clients, transforming their traditional workflow to reduce administrative burdens and enhance service delivery. The platform enables automation of routine tasks, increases transparency, and facilitates better control over processes. This not only makes debt mediation more efficient but also creates a significant social impact by supporting financial well-being.
The software is a daily essential, significantly reducing time and offering a wealth of features that have garnered strong market validation. Product Development is guided by a dedicated group of experienced lawyers who continually steer toward delivering a superior product. Their expertise and insights ensure that the software not only meets but exceeds the expectations of our users.
Strategy
Roov’s initial market focus is Belgium, having established a strong employee base across both Flanders and the Walloon region. The company’s growth strategy involves:
· Direct engagement with potential customers and creating ambassadors
· Organic growth and viral communication
· Building partnerships and attending key industry events
· Leveraging accolades such as the Trends Impact Award for Inclusion & Diversity to bolster reputation
· Distribution is predominantly founder-led, leveraging personal networks and industry connections to expand reach and influence within the market.
This approach ensures that the core values and mission of Roov are communicated effectively and consistently.
Internationalisation
A core strength of Roov lies in the global scalability of our platform. Initially focused on penetrating the Belgian market—where we are establishing a strong customer base and solidified our product offerings—we will look for international expansion.
Building on our achievements, Roov is actively laying the groundwork to extend our reach beyond Belgium. Our international expansion strategy includes:
Market Analysis and Entry Strategy: We are conducting thorough market research to identify and understand potential markets. This includes assessing local regulatory environments, financial habits, and competitors analysis to ensure successful market entry and product alignment.
Building Local Partnerships: Recognizing the importance of local knowledge and networks, Roov is seeking to establish partnerships with local institutions. These partnerships will be crucial for navigating new territories, aligning with local regulations, and tailoring our offerings to meet specific market needs.
Ambassador Programs: To enhance our market presence and consumer trust, we plan to implement ambassador programs. These programs will leverage local debt mediators who resonate with our target base.
Scalable Technology: Our platform is built with scalability in mind, using cloud solutions and modular architecture that can easily be adapted to different countries' needs. This ensures that we can quickly adjust to new markets with minimal disruption and optimal performance.
Resource Allocation for Expansion: Roov is committed to investing in the necessary resources to support our global expansion. This includes hiring local talent who are not only experts in their fields but also deeply understand the cultural and economic contexts of the new markets.
Key Milestones 2024 so far
· +70 debt mediators using our platform · Product users in each province in Flanders · First traction in Walloon · > 80% using the product weekly · + 1300 payments flowing through the platform on a weekly basis (and increasing week over week) · + 500K EUR ARR in signed contracts · ARR x 5 compared to last year
What our ambassadors say about Roov ...
"Thanks to ROOV, our office can save a lot of time, which we can invest back into following up and counselling all our clients."
"We are very satisfied with ROOV. Our suggestions are listened to and often implemented in a short period of time. Then if there are certain problems they are fixed very quickly. ROOV is a great asset and is constantly getting better."
"For us as administrators, creating reports is very important. Because of ROOV, we now save a lot of time with this. The greatest strength of ROOV is that it is a very user-friendly system, and it listens to our input."
"ROOV allows me to prepare my reports for custody much faster. All the data is already in ROOV and I don't have to go look everything up and categorize it separately. The ability to make payments makes ROOV a complete system."
"ROOV does exactly what it promises. All bills come together in 1 overview, which saves me a lot of time and allows me to work more efficiently."
Fact sheet
Advised by a professional start-up advisor
Valuation is set by the co-investor or incubator
Co-investor or incubator will be members or observers to the board
At the closing, an incubator, accelerator, or studio will have shares
At the closing, the entrepreneurs have contributed a minimum of €15,000 in cash in exchange for shares
At the closing, a professional co-investor will have invested at least €25,000
Prior fundraising in equity or convertible loan with 10 or more investors
Seasoned entrepreneurs
Minimum 2 active entrepreneurs
Valuation set by an organisation specialized in valuations of comparable size
Valuation is less than €1 million or 10x last year’s turnover
