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At the end of 2020, Paweł Malon and Marek Jakubow established Stability Capital, a Warsaw-based SF. After a thorough market search, they acquired a majority stake in Velis Real Estate Tech (Singu) in June 2023, a company specializing in SaaS proptech solutions. Backing the acquisition were investors such as Relay Investments, Housatonic Partners, Ambit Partners, Vonzeo Capital, Evolutiq, and Liberty One Group.
Singu provides facility, maintenance, and sustainability reporting software tailored to the commercial real estate industry. Its cloud-based platform enables property managers to digitize and automate facility operations, maintenance workflows, and portfolio management. At the time of acquisition, Singu operated in 30 markets, supported over 10,000 buildings, and generated approximately PLN 25 million in revenue from 350 corporate clients, covering around 93 million square meters.
Over the past two years, both searchers have significantly scaled the business. Today, Singu serves more than 500 clients in 35 countries, managing over 200 million square meters of commercial real estate, and employs over 90 people across five countries.
Now, K1 Investment Management, a leading investor in small-cap enterprise software, has made a strategic investment to merge Singu with the UK-based Micad, another prominent European real estate management software provider. The newly combined entity will support over 100,000 buildings across 35 countries, totaling more than 250 million square meters of managed space.
Singu brings strengths in facility management, maintenance automation, and sustainability reporting, while Micad adds deep expertise in asset, space, and compliance management. K1 plans to continue investing in both platforms to drive innovation and deliver long-term value to commercial property owners and managers worldwide. Notable clients of the combined company include Prologis, CBRE, the NHS, Logicor, the University of Cambridge, and Unibail-Rodamco-Westfield.
“This combination creates a rare opportunity to build a unified European platform that addresses the increasing need to digitize property management,” said Paweł Malon, CEO of the combined entity. “In bringing our capabilities together, we offer commercial real estate managers an end-to-end solution that comprehensively addresses the pain points of managing facilities and facility operations.”
“With K1’s support, we are combining two mission-critical platforms to accelerate our vision of becoming the premier property management technology across Europe,” said Peter Harris, Managing Director of Micad. “Our integrated solution will deliver actionable strategic intelligence, empowering facility managers in healthcare, logistics, retail, higher education, government and other verticals to drive efficiency, compliance, and long-term value.”
“We are thrilled to partner with Paweł, Peter, and their respective teams to help scale a European leader in facility management software,” said Tarun Jain, Principal at K1. “This is the moment to unify the leading solutions in the space, as property managers across Europe are rethinking how they operate. Together, Singu and Micad are positioned to lead that transformation.”
Financial terms of the transaction were not disclosed, but it marks another success story for the Polish SF ecosystem, coming just a few months after Formeds’ successful exit to Enterprise Investors
Legal: Sidley Austin LLP / MJH Moskwa, Jarmul, Haładyj i Partnerzy / NautaDutilh / Tax: KPT Tax Advisors / DD: TS Partners
