Formaloo, a startup dual headquartered in Canada and Estonia, has raised $2.9 million CAD (€2 million EUR) in seed funding to support the expansion of its no-code platform for building a variety of business applications.
The round was led by Change Ventures, with participation from Hyde Park Venture Partners, Mana Ventures, and Startup Wise Guys.
“Formaloo will enable business users to create any kind of applications they want in a matter of minutes, not months.”
Founded in 2020 by Farokh Shahabi, Noosh Baratpour, Hasan Noori, and Amir Hashemi, Formaloo allows businesses to create forms, customer portals, customer relationship management platforms, and other tools without using any code.
Formaloo integrates with Slack, Google, and Microsoft programs, allowing users to create databases and add interfaces by dragging and dropping building blocks.
More than 650,000 databases and business applications have already been created using Formaloo’s platform, according to the startup. Formaloo claims over 25,000 clients across the United States, Asia, Australia, and Europe. The company says its users include Meta, McDonald’s, and Bolt.
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According to Shahabi, Formaloo’s goal is to become more than just “another no-code platform,” with the aim to create a whole ecosystem that allows users to create tools and manage them all through one platform.
“Formaloo will become a workspace hub, which enables business users to … create any kind of applications they want in a matter of minutes, not months,” Shahabi added.
Proceeds from this investment will support Formaloo’s marketing efforts in existing markets, as well as in the United Kingdom and Canada, according to the startup.
Formaloo previously secured $15,000 in June as the runner-up for The DMZ’s Insiders Event. It is part of The DMZ’s spring 2024 incubator cohort.
Featured image courtesy Formaloo.