Startup Flo announced a € 650 000 investment according to the news-site 8till5. The angel investment is from four business profiles. The funding will be used to bolster the marketing for it’s product – a new way to sort your information.
Flo’s aim is to create a service that improves everyday life. The app, which is released in a month, aims to unite calendars, to-do lists and e-mail – both work as well as private – to provide a better overview of a person’s to-do and tasks.
“The world does not need yet another calendar app. Your day consists of commitments which you get through many different means, be it SMS, email, Facebook or in person. The trick is to get it down in one interface and that is what our app does.” says Johan Gunnar, CEO, to 8till5.
Flo is approaching the classical to-do list in a whole new way, according to Johan:
“90 percent of the services that are available today are made of male engineers for male engineers – we try to take an entirely new approach. We have run a lot of user testing with both women and men. Men’s approach is that they wants to find the tools to be more productive, while women usually already perceive themselves to be productive but have a desire to get an overview over their days. The aim is to find a solution for both.”
The startup, which is part of the Minc incubator, was founded almost two years ago by Johan Gunnar and Sebastian Mutsson. Johan has a past as founder of Avail, which was acquired by RichRelevance in 2013.
Not the first investment
Already in June 2014 Flo raised a small round of € 240 000 from Almi Invest and the business profiles Lars-Erik Skjutare (former CEO of Sparbanken Öresund) and Christer Arvidsson (from Delvator). In addition to this 8till5 reports the startup has also raised € 75 000 in additional funding.
“With the early money we built a beta version of the app, and validated that the service works” says Johan
The current round of investment comes from the previous owners, as well as four new business angels. The new investors are Ulf Ljunggren (founder of Scandinavian Cosmetics and Inco Invest), Johan Andersson (Chairman of Vergic), Pia Althin (Pia Ståhl Foundation and investors including Newtoy which then was acquired by Zynga) and Lars Bruzelius (BSI and Partners ).