Brokerage Platform StackSource Turns Into SaaS Service
The company was acquired by real estate advisory firm Max Benjamin Partners earlier this year.
CRE financing broker StackSource, which was acquired earlier this year by real estate advisory firm Max Benjamin Partners, pulled an unusual move by getting out of the brokerage business and instead becoming a software as a service, or SaaS, platform “to provide CRE brokers and borrowers with relevant lending and investment data,” according to a press release.
“StackSource has data on over 3,500+ relevant lenders and investors,” they wrote. “It will be the only SaaS platform to exclusively work with approved brokers and advisors while providing investors with relevant lending and investment data. StackSource will have a firm vetting process to ensure lenders are receiving highly vetted deals from quality brokers and sponsors. StackSource’s SaaS beta test will be launching at end of July 2024.”
“We are confident that this transition to a SaaS platform will significantly enhance the financing process for brokers, lenders, and borrowers, offering them greater efficiency, transparency, and reliability,” said Max Mellman, StackSource’s new chief executive officer, in prepared remarks.
The company claimed sets of benefits for brokers, lenders, and borrowers.
StackSource said that brokers could see enhanced deal flow; wide network access with more than 3,500 capital sources; simplified deal management; and accurate information. Lenders get access to vetted deals and brokers and detailed information. Borrowers would get matchmaking with lenders and expert guidance.
Companies have often been known to develop technology internally that they then make it available to others. But to completely move to become a tech company and give up what they did before is unusual.
The question is whether the new emphasis will have the same access to updated information as might happen more organically through brokerage services.