- Trustoo, the platform for finding a local service provider, opens a new office in Berlin and strengthens its market position in the Netherlands and Belgium
- The Dutch venture capital investor No Such Ventures supports the ongoing growth of Trustoo by making another million investment in the company.
After No Such Ventures took a minority stake in Trustoo two years ago, the latter has experienced significant growth. The Amsterdam service platform doubled the number of requested quotes to over one and a half million in a year, now employs more than fifty people, and entered the German market. "We are very proud of this new investment, which underscores our trusted relationship with No Such Ventures," says Lars Freriks, co-founder of Trustoo. "Thanks in part to their previous growth capital and expertise, we have made great strides and found many matches between consumers and local service providers in all conceivable sectors, from contractors to marketing agencies and insurance agents. We are growing exponentially, so I am confident that we will continue this success after this interim round."
"We have enormous confidence in Trustoo and the qualities of Lars, Pieter, and the team. That’s why we are investing in them again now," says Arjan Griffioen, investor at No Such Ventures. "Since our partnership, they have achieved every goal and repeatedly proven their business model. I am glad that we are preparing them for the next phase with this financial boost and ongoing strategic support: expanding existing services in the Netherlands and Belgium and conquering the German market."
State by state
Trustoo is tackling the German market step by step under the name Trustlocal.de: state by state and service by service. Through that platform, consumers across Germany can compare lawyers and photographers; in North Rhine-Westphalia, Trustlocal is already active in six sectors. Pieter Westerhuis: "Germany is a huge market with a lot of potential, for which we are happy to take our time. Ultimately, in all our markets, it’s about finding the happy match between service providers and their customers. This way, we increasingly serve as a business engine for them instead of just a lead generator. In this way, we not only create the best experience for the affiliated service providers but also for our users."
