Baselane, a fintech platform designed to help real estate investors and landlords manage rental property finances, has raised $20 million in a Series B funding round led by Thomvest Ventures in San Francisco.
Launched in 2022 by co-founder and CEO Mathias Korder, the Baselane platform consolidates services for banking, bookkeeping, rent collection and tax reporting, and is now used by more than 50,000 real estate investors in the US.
The Series B round was also supported by Diagram Ventures, Starwood Capital, Parameter Ventures, Activant Capital, RXR Arden Digital Ventures, Watershed Ventures, and Matrix Partners.
In announcing its latest fundraise, Baselane also reveals that Matrix Partners led a previously unannounced $14.4 million Series A round for the company, bringing total funding to date to $44.3 million.
The statement confirms that Baselane will use the funding to “scale its go-to-market efforts and accelerate product innovation”. This focus has led to the launch of the platform’s first subscription-based product this week, called Baselane Smart.
The suite automates transaction tagging, receipt matching, and fund transfers, allowing real estate investors to manage their property finances with minimal manual input.
With this, Baselane also reveals additional plans to “introduce AI and automation to streamline tasks like transaction categorisation, receipt matching, and proactive fund transfers to cover bills” in the future.
Source: https://www.fintechfutures.com/
