API-first open property management platform Apaleo has revealed it has raised €20 million in a growth equity investment round led by PSG Equity.
Existing investors Redalpine, FOMCAP IV, and Rockaway Ventures also participated in the round.
The new injection of funding will allow Apaleo to accelerate its international expansion, attract top-tier talent, and further develop its cutting-edge platform.
The company plans to strengthen its presence throughout Europe and globally, solidifying its position as a market-leader in hotels and serviced apartments.
Apaleo will also deploy the capital to further expand its already sizeable reach across a broad spectrum of the accommodation and serviced living industries – including hotel chains, resorts, student housing, short-term rentals, camping, senior living and other accommodation verticals.
The firm’s portfolio now spans over 30 countries worldwide, managing more than 85,000 units across diverse markets and serving over 1,700 properties.
Customers include citizenM, easyHotel, and Numa.
Uli Pillau, founder and CEO of Apaleo, said: “The hospitality industry is undergoing a transformative shift, with accommodation providers of all types and sizes demanding more flexible and adaptable technology solutions.
“Legacy all-in-one property management systems have long imposed limitations, locking businesses into rigid frameworks that stifle growth and creativity.
“Partnering with PSG is a major milestone for Apaleo. This investment is a strong vote of confidence in our vision to break free from outdated systems and empower businesses to create bespoke tech solutions that truly reflect their unique needs.”
Edward Hughes, managing director of PSG Equity: “Apaleo’s commitment to an API-first approach truly differentiates it in the competitive landscape.
“As the hospitality industry advances technologically, Apaleo’s agile, top-tier platform is ideally suited to meet the changing needs of accommodation providers around the world.
“PSG is excited to support Apaleo’s international expansion and apply our expertise to help the team scale effectively in key global markets.”
