Lev, a New York-based provider of a digital commercial real estate (CRE) transaction platform, raised $170M in funding.
The round, which brings total funding to over $200m, included:
- a $70m Series B round led by Parker89 and Cross River Digital Ventures with participation from NFX, Canaan, JLL Spark, Animo Ventures, Capital One Ventures, Citi Ventures and Citi SPRINT, StepStone Group and Blitzscaling Ventures.
- a $100m in debt financing from Cross River’s Strategic Direct Lending Group.
The company intends to use the funds to enhance its product offerings, recruit talent across all departments, and double down on research and development for its marketplace and end-to-end lending experiences.
Led by CEO Yaakov Zar, Lev is a digital commercial real estate financing platform offering an access to capital from financial institutions. Its technology provides loan seekers with instant access to customized financing, based on their precise needs, from leading financial institutions.
The company closed $1 billion in CRE mortgages in 2021.