Setpoint, a New York-based company building infrastructure for modern real estate transactions, raised $43M in Series A funding.
The round was led by Andreessen Horowitz, with participation from Henry Kravis, Spencer Rascoff, Fifth Wall, 645 Ventures, NextView Ventures, LiveOak Venture Partners, Vesta Ventures, ATX Venture Partners and Capital Factory.
The company intends to use the funds to invest in software engineering and develop tools for its customers on both sides of asset-backed transactions, continue to focus on relationships with borrowers and lenders to make transactions instant, automated, and error-free, and to expand outside of real estate by powering all asset-backed lending.
Led by CEO Stuart Wall, Setpoint provides a capital and technology platform that enables proptech and asset-backed borrowers to offer home buying and credit options to consumers. The company is building the next-gen infrastructure for real estate and asset-backed lending. The software makes warehouse transactions instant and acts as the funding operating system for originators: it verifies and stores documents, automates interest rate calculations, and digitizes assets like homes or autos.
FinSMEs
09/12/2022