Having announced the raise of $32 million back in late May of this year, Cologne-based Sastrify, which offers finance and other business units a platform to optimise the management and cost of the SaaS tools, reports a second closing of this Series B round.
The company declined to disclose the exact figure attached to the extension, only noting that the investment was provided by historic backers of Klarna, Reimann Investors. In conjunction with Reimann’s investment, in mid-March 2014, Klarna subsequently announced the acquisition of German payment solutions provider SOFORT.
And so it would seem that Reimann is at it again, as today Sastrify confirmed the acquisition of Amsterdam-based competitor Pengu.
The acquisition will see the integration of Pengu's technology and data set into Sastrify’s and is a move aimed at consolidating Sastrify’s position as a market leader in the SaaS procurement industry.
In addition to the acquisition, Sastrify says that the Series B round extension will fuel further scaling of operations, research and development projects, and push into new markets.
Lead image: Sastrify co-founders Maximilian Messing and Sven Lackinger (left to right). Photo: Uncredited.