US-based proptech Setpoint has acquired Resolute Diligence Solutions to revolutionize fintech lending. Setpoint aims to combine Resolute’s outstanding service with its own technology to provide a best-in-class solution for capital markets borrowers and lenders. The company seeks to address the current inefficiencies in transactions between warehouse lenders and loan originators by providing lightning-fast and accurate infrastructure for wider access to credit.
Facts
- US-based proptech Setpoint has acquired Resolute Diligence Solutions, a due diligence provider focused on single family rental (SFR) and residential transition loans (RTL).
- Founded in 2021, Setpoint raised $43 million in its Series A funding round in December.
- Resolute was established in 2019 as a subsidiary of SingleSource Property Solutions, a provider of integrated mortgage services and property management solutions in the US.
- Setpoint believes that the combination of Resolute’s service and its own technology will revolutionize fintech lending.
- Setpoint co-founder and CIO, Michael Lam, describes Resolute as highly complementary to the Setpoint platform and believes that the combination will result in a best-in-class solution.
- Setpoint discovered Resolute through customer feedback, with the largest lenders and originators consistently expressing their satisfaction with Resolute’s service.
- Setpoint aims to address the current inefficiencies in the lending process by providing lightning-fast and accurate infrastructure, enabling wider access to credit and making assets and loans more liquid.
