back Back

Sastrify, the platform for managing SaaS Subscriptions raises $32m

By Gloria Methri

May 26, 2023

  • Capchase
  • Digital Transformation
  • Endeit Capital
Share

Sastrify, SaaS, Cloud, FinTech, GermanySastrify, the next-generation platform for buying and managing SaaS subscriptions, has raised a $32 million Series B financing round led by Endeit Capital. Other investors contributing to the funding include Simon Capital, HV Capital, FirstMark Capital, and TriplePoint Capital.

Sastrify will use the additional funds to scale the global team focused on the United States and Europe and further accelerate product development to support mid-market and enterprise customers.

The Sastrify platform allows users to centralize, visualize, and automate their entire SaaS procurement journey. The company powers SaaS procurement for fast-growing companies like sennder, OnRunning, Babbel, and Pleo and is likely to expand its services in the US, already serving customers such as Capchase.

The fundraising coincides with Sastrify’s expansion of its core product offerings to provide automated Usage Analytics as well as the launch of the Sastrify Marketplace, which includes flexible payment and financing options. Sastrify and Capchase also recently announced a partnership to provide flexible financing for SaaS licenses.

“We have built a platform that enables procurement, finance, and IT teams to fully optimize all aspects of their software procurement,” said Sastrify CEO and co-founder Sven Lackinger. “Our hundreds of customers around the world have validated our platform as the comprehensive SaaS procurement solution. We are positioned to grow our team, and continue to work with companies to focus and accelerate their efforts to reduce their risk, save hours per week, and save up to seven figures on their SaaS costs.”

“As a result of the rise of SaaS Solutions, accelerated Digital Transformation due to Covid and the current global economic climate, scalable SaaS management has become table stakes for running a successful company. We believe Sastrify’s platform is very well positioned to capitalize on this trend,” said Philipp Schroeder, partner at Endeit Capital,” said Philipp Schroeder, partner at Endeit Capital.

Previous Article

May 26, 2023

CBA upgrades banking app to deliver superior customer experience

Read More
Next Article

May 26, 2023

Muse Finance appoints ex-NatWest exec Julie Ashmore COO

Read More






IBSi Daily News Analysis

Complaints Fraud

May 22, 2024

Capchase

UK SMEs lack fraud protection, facing significant financial risks, study shows

Read More

IBSi FinTech Journal

  • Most trusted FinTech journal since 1991
  • Digital monthly issue
  • 60+ pages of research, analysis, interviews, opinions, and rankings
  • Global coverage
Subscribe Now

Other Related News

May 22, 2024

CashFlo acquires Logitax to expand its Finance Automation & Compliance Suite

Read More

May 22, 2024

Capchase secures €105m to support financing for SaaS firms in Europe

Read More

May 22, 2024

Vietnam’s PVcomBank selects Temenos Digital on AWS to enable mobile banking

Read More

Related Reports

Sales League Table Report 2023
Know More
Global Digital Banking Vendor & Landscape Report Q1 2024
Global Digital Banking Vendor & Landscape Report Q1 2024
Know More
Wealth Management & Private Banking Systems Report Q1 2024
Wealth Management & Private Banking Systems Report Q1 2024
Know More
IBSi Spectrum Report: Supply Chain Finance Platforms Q4 2023
Know More
Treasury & Capital Markets Systems Report Q1 2024
Know More

IBSi Sales League Table

The industry acknowledged barometer of global banking technology vendor performance!
Get your copy now!
close-link
Get your copy now! IBSi Sales League Table 2023