Alasco said to raise ‘several million Euro’ seed

Alasco, a platform designed to digitise the workflows of construction projects, has reportedly raised a ‘several million Euro’ seed round.

The capital was supplied by investors including HV Holtzbrinck Ventures, Picus Capital, FlixBus founders, and the founders of Alasco, according to a report by FinSMEs.

Germany-based Alasco aims to lower costs and duration of construction projects by implementing digital connectivity of stakeholders, its website states. Its technology digitises workflows to support end-to-end cost control across all service phases.

The platform ensures data accuracy and helps to optimise all workflows, as well as provides reliable cost data to improve cost savings and increase planning security.

Alasco is adaptable so that it can meet the varying requirements, processes and stakeholders demands.

Through this capital injection, the company will look to support the expansion of its team and increase the product development, it said.

HV Holtzbrinck Ventures has made a number of investments into the FinTech sector this year, having already completed another deal this month. The firm recently took part in the €33m funding round of digital asset management solution LIQID.

Founded in 2016, the Berlin-based company is a digital wealth manager which provides clients access to various investment strategies and asset classes such as private equity.

Other deals completed by Holtzbrinck this year include the €4m Series A of open banking platform NDGIT and the $11m seed of Verbit, a transcription compliance solution.

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