KBC Bank invests 1.5 million euros in Belgian company Setle to make more housing more sustainable
Setle, a real estate company based in Limburg, Belgium, announced on Tuesday that it had secured 1.5 million euros from KBC Bank to accelerate its growth from start-up to scale.
Founded in 2020, Setle is an online platform that helps make better decisions when renovating. The Belgian company is on a mission to make renovations more transparent, whether it’s making homes more energy efficient or maximizing the housing budget.
Thibaut Nivelles, CEO of Setle, says: “As the saying goes, ‘every Belgian is born with a brick in his stomach’. The family home remains the biggest household expense each month. In addition, the sharp rise in energy prices and the growing importance of a sustainable energy transition do not always allow those who wish to build or buy their own house to see the wood for the trees. At Setle, our goal is to help people buying or renovating their homes make the right decisions in the renovation process. We are delighted that KBC, which offers the best mobile banking app in the world and which has a clear focus on sustainability, is supporting us in the development of our business. »
Setle: Making Renovations Transparent
The Setle tool helps real estate agents to present individuals (buyers and renovators) with an estimate of the total cost of the property, including the costs of renovation, making the property more sustainable, improving the energy label and consumption of energy. It also includes potential grants and grants and quotes from contractors.
Estate agents may also suggest alternative properties based on Setle’s renovation estimate. This includes reviewing grants and subsidies, which could make the property a more attractive investment for the potential buyer.
According to KBC Bank, the renovation report is accepted by several banks, including their own, as part of the loan application process. In addition, Setle and KBC will also launch several pilot projects in the fall, the company adds.
The Limburg-based company operates from the Corda Incubator facility in the city of Hasselt and has a satellite office in Amsterdam. Setle currently works with 425 real estate agents. To date, the Setle platform has carried out renovation simulations for €1,75,593,005, says the company.
Currently, Setle employs around ten people and is actively looking for new talent to support the growth of its building renovation application.
Karin Van Hoecke, Innovation Manager of KBC Group’s Belgium Business Unit, says: “The transition to sustainable energy will have a fundamental impact on society as a whole. However, for individuals, the primary focus of the transition is their home. They sometimes don’t know where to start and have many questions about buying a home, renovating, improving insulation or keeping energy bills affordable.
“The investment in Setle is the next step to ensure maximum comfort for our customers when renovating their homes and making them more energy efficient. We see that customers are looking for solutions that make their lives easier, and we recognize Setle’s commitment
potential. We believe in Setle’s strong team and excellent solutions that perfectly address our customers’ challenges and contribute to a complete solution and experience for them,” he adds.
Watch our interview with Paul Down, Head of Sales at Intigriti.