Munich-based Alasco has raised €35m (c.£29.2m) to expand its cloud-based financial management platform for the real estate industry.
The Series B funding was led by New York headquartered venture capital firm Insight Partners, with participation from global private equity platform Lightrock.
Founded in 2019, Alasco aims to help the real estate industry streamline and digitalise the ESG (environmental, social and governance) compliance process.
The startup has created its Real Estate Success Software as a cloud-based real-time SaaS platform that enables customers to connect all sources of ESG and financial data – including budgets, actual cost, revenues and ESG criteria – with cutting-edge technology that automates and assists with financial and sustainability decision making.
This new funding will give Alasco a boost to grow its team, expand across Europe, and enhance the platform’s functionalities and ESG capabilities to support customers in managing the entire life cycle of a real estate project.
Sebastian Schuon, CEO and founder, commented: “By the end of 2022, we plan on doubling our headcount from 100 to around 220 employees.
“At the same time, we plan to expand our business into new markets. Growing our presence internationally is the next logical step for us, although customers around the world already use our solution.
“Real estate is a global industry, and it urgently needs digital solutions. We want to make our contribution here and show how the industry can make real progress – starting with a focus on the UK market in 2022.”
Image: Alasco founders Anselm-Bauer, Sebastian-Schuon and Benjamin Guenther (Credit: Alasco)
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