CoFi, a Salt Lake City, UT-based construction financing company, raised $7m in seed funding.
The round was led by Blackhorn Ventures, Metaprop, and Tenacity.
The company intends to use the funds to expand operations and its business reach.
Founded in 2018 by Mike Lacey and Cam Harris, CoFi is a digital platform that empowers contractors to get project funding backed by on-demand payments. It allows both builders and developers to streamline cash to the job site so everyone gets paid fast. By engaging multiple partner lenders in a strategically grown lender pool, CoFi can ensure the best rates and terms for construction loans.
To date, lenders nationwide have trusted CoFi to process billions of dollars in construction financing.
FinSMEs
10/03/2022