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Alternative Assets  + Real Estate  | 
PropTech Startup VERO Hauls $9M to Optimize Owner/Renter Experience, Led by Fifth Wall

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.

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About Joe Palmisano

Joe Palmisano is Editorial Director for Connect Money, where he brings nearly three decades experience of market insights as a financial journalist, analyst and senior portfolio manager for leading financial publications, advisory firms, and hedge funds. In his role as Editorial Director, Joe is responsible for the selection of content and creation of daily business news covering the financial markets, including Alternative Assets, Direct Investment and Financial Advisory services. Before joining Connect Money, Joe was a financial journalist for the Wall Street Journal, regularly publishing feature stories and trend pieces on the foreign exchange, global fixed income and equity markets. Joe parlayed his experience as a financial journalist into roles as a Senior Research Analyst and Portfolio Manager, writing daily and weekly market analysis and managing a FX and US equity portfolio. Joe was also a contributing writer for industry magazines and publications, including SFO Magazine and the CMT Association. Joe earned a B.S.B.A. in Finance from The American University. He holds the Chartered Market Technician (CMT) designation and is a member of the CFA Institute.

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