Civinity invests in Pingin.Space – the Lithuanian start-up that develops a digital management tool for business centers and coworking spaces

Civinity invests in Pingin.Space – the Lithuanian start-up that develops a digital management tool for business centers and coworking spaces

Civinity’s investment company Pentaframe Capital is investing in Lithuanian start-up Pingin.Space while acquiring a 10 percent stake in the company. The value of the transaction is not disclosed by the companies.

Pingin.Space develops all-in-one software for real estate developers and managers that helps them manage the assets and ensure seamless collaboration with customers in the building. Pingin.Space offers its customers a centralized management of building income and expenses, reservation of parking, offices, meeting rooms, items and sale of services or goods through the Pingin.Space platform.

“The main goal of our product is to help the landlords to manage and account all the processes that take place in the building, and at the same time to enable the tenants to manage the building systems themselves, reserve and buy the spaces, services or goods in the building. We are pleased that Pentaframe Capital has trusted us for our future goals and is contributing as a financial investor to the development and adaptability of our product to other markets – says Pingin.Space co-founder Mindaugas Juška. 

According to Deividas Jacka, shareholder and CEO of Civinity group and Chairman of the Board of Pentaframe Capital, the investment in this startup shows great faith in new technologies and their use in managing and maintaining commercial buildings and providing customers with a full range of services.

“We invest in Pingin.Space because we believe in the value the product creates for the participants of the commercial real estate market. Although we will not be involved in the management of the start-up, we believe that we will be able to offer the successfully developed product to our customers and expand the range of the services.” – comments Deividas Jacka. 

In June 2021 Civinity announced the plans to invest up to 15 million in real estate technology (PropTech) start-ups. Already in July the first investment was made in the British start-up Halo.rent. Investment in Pingin.Space is the second by an investment company established by Civinity.

The Pingin.Space product has already been trusted by many real estate developers operating in Lithuania. The company’s revenue doubled in 2021 compared to 2020 and next year the start-up sets even more ambitious growth targets together with the planned expansion in the Baltic and Western European countries.

“We invest in Pingin.Space because we believe in the value the product creates for the participants of the commercial real estate market. Although we will not be involved in the management of the start-up, we believe that we will be able to offer the successfully developed product to our customers and expand the range of the services.”

Deividas Jacka, shareholder and CEO of Civinity group and Chairman of the Board of Pentaframe Capital