US real estate

Real estate firm SaaS Alasco raises $ 40 million

Alasco, the cloud-based financial management platform for real estate projects, has raised $ 40 million in Series B financing, the Munich-based company announcement Tuesday (January 11).

Funding was led by Insight Partners, the global venture capital and private equity firm that invests in technology and software companies, and Rock-light, an investor in technology-driven business models.

Alasco said the funding would be used to hire staff, boost European expansion and improve its software as a service(SaaS) and environmental, social and governance (ESG) ability to support clients in the management of a real estate project in a digital and sustainable way.

In terms of digitization and ESG issues, the real estate sector has room for improvement. To achieve this goal, Alasco offers a cloud-based SaaS platform that allows customers to connect data, including budgets, costs, revenues and ESG criteria, with automated technology to help make financial decisions. and sustainable development.

Founder and CEO of Alasco Sebastien schuon said scaling his business was a priority with this new influx of capital.

“By the end of 2022, we plan to double our workforce from 100 to around 220 employees,” Schuon said.

While digitization has been an almost universal pursuit for corporate finance executives, it has played out differently in various industries. This reflects the fact that each industry has had its own set of challenges.

Payments by paper check remain prevalent in commercial real estate, an industry that often deals in large amounts. Payments by check account for 34% of B2B payments in this industry, according to the strategic role of the CFO, a PYMNTS andVersapaycollaboration based on a survey of 400 CFOs.

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