
PropTech Startup VERO Hauls $9M to Optimize Owner/Renter Experience, Led by Fifth Wall
PropTech startup VERO, which promotes itself as a modern leasing platform for owners and renters, has raised $9 million in a Series B funding round led by asset manager Fifth Wall. The latest raise brings Vero’s total to $26.7 million.
The fresh infusion of capital will enable VERO to deepen its technology stack and optimize the owner and renter experience. It will also help the company add new capabilities, bolster its platform and hire more staff.
The New York-based company claims to be the first and only tech solution in the industry to automate the verification of an applicant’s previous residency and qualifications. The centralized solution provides clients with streamlined workflows, mitigated risk and increased net asset value.
Led by CEO Lou Baugier, the company noted that transaction volume has increased 500% annually, while revenue growth has jumped 130% quarter-over-quarter since inception in 2018.
“We are thrilled to partner with Lou and the entire VERO team to bring a category-defining platform to the $3B residential leasing software market,” said Sarah Liu, Partner on the Real Estate Technology Investment Team at Fifth Wall.
