Lithuanian Flanco raises investment from co-founder of Trafi Martynas Gudonavicius

Lithuanian real estate technology platform Flanco has raised investment from a co-founder of a mobility platform Trafi Martynas Gudonavičius. The amount of the investment was not disclosed. According to the investor, he has joined Flanco as a significant shareholder. The size of the investment exceeds his average ticket size, which is about €30K- €50K.

Founded in Vilnius in 2018 by Tomas Meizis and Mindaugas Juska, formerly known as Pingin, Flanco is a workspace management platform that streamlines office operations. Flanco's technology solution helps connect access control, parking control, vending and coffee machines, and utility consumption. The startup automates the management of building spaces (offices, shared conference rooms, event spaces), assists with tenant billing, and provides paid services on demand. 

The company has developed a hybrid work management application for companies Flanco Space, which allows booking workspaces, meeting rooms, desks, and inventory more efficiently, and Flanco Structure, a tool for property managers to better control office buildings, coworking, or coliving spaces. Flanco is managed by firm UAB Gigsis. The startup operates in Lithuania, Latvia, Poland, and the Czech Republic. 

In 2023, Flanco raised investment from the Lithuanian incubator and venture capital company Tesonet, which became a major strategic investor in the startup.

Martinas Gudonavičius is a co-founder and a board member of Trafi, and also a business angel. The average ticket size is about €30K- €50K.