Found investor at Jyske Bank pitch event: “We don’t just need money – we need people”

If the construction industry is to be greener, it needs new technologies. And that’s exactly why the startup zupply.ai was founded. 

“Our focus has always been impact, sustainability and circular economy. We make custom apps for professionals in the construction industry for them to deliver better solutions. And we do it in a faster and more affordable way as we’ve built a software platform that builds apps for the industry based on modules or building blocks, so to speak,” says Jose “Pepe” Tavares 

With its solution, zupply.ai can, among other things, help the construction industry with custom workflows digital twins and automated data visualisations or report generation. And since the industry is among the least digitised, the startup can move the needle a lot in a short time. 

For that reason, the company quickly took off after being founded in 2022, where it participated in the GreenUP Accelerator: since then, over 50 tailored solutions have been delivered to customers in Denmark, Finland, the Netherlands, Canada and other countries. 

That’s why they weren’t really looking for an investor when they were invited to a Jyske Bank Pitch event as part of the GreenUP Accelerator. But they found one anyway. 

An informal meeting 

When Jose “Pepe” Tavares attended the Jyske Bank pitch event in 2023, it was mostly in preparation for raising capital later. 

“Actually, we were not actively raising. Of course, startups are always raising money, but we just wanted to test the waters at this event. We were in the mentality of getting feedback on both product and pitch before fundraising,” he says. 

After his 5-minute pitch, there was an opportunity for investors and startups to meet each other in a small area where each startup had it’s booth. Here, the young startup met several investors who wanted to share their experience and give feedback – just as the entrepreneur had hoped. But a conversation with Jesper Wismar Thygesen turned into more than just good advice. 

“We were not talking about money from the get-go. He literally said: I came to your booth because I’m from the construction industry, and I got interested with your company. However, he didn’t really have experience with software or sustainability, so we talked about that. So rather than pitching we just got to know each other,” says Jose “Pepe” Tavares. 

Afterwards they met for a coffee. Not to talk about investing – but about life in general and to learn from each other. And when the idea of Jesper joining as an advisor started floating between them, Pepe suggested he get some skin in the game as well. They agreed on an amount, shook hands, and that was that. And ever since, the investor has spent around a day a week helping zupply.ai. 

“He believes in teamwork and is a great support for us. I ask him about a lot – from hiring to commercial planning – and he often goes to commercial meetings with us. I really can’t say better words about an investor: He’s the best you could get. We speak every Friday about our challenges and we have even been to his home as a team building retreat – so we are super happy we met Jesper at the event,” says Jose “Pepe” Tavares and discloses that Jesper Wismar Thygesen has later reinvested. 

The right match 

The fact that zupply.ai and Jesper met at an informal event at Jyske Bank is far from unique. A handful of times a year, the bank invites its wealthy customers to meet selected startups – including participants from MedTech Growth, GreenUP Accelerator and Danish Tech Challenge – to help make the correct matches happen. 

“We have many customers who have chosen to get involved to one degree or another – either as an advisor, mentor or investor. So in that way, I have experienced over the years that our customers are actually very interested in this ecosystem,” says Kim Dalsgaard, Business Director for Private Banking East at Jyske Bank. 

The bank sees great value in facilitating the meetings for everyone involved. Customers get access to startups in a special part of the ecosystem, while startups get access to venture capital from wealthy individuals with a business career behind them. And the combination of the special setting and the smart money made the event special for Jose “Pepe” Tavares.