- Series B Funding:
- New York-based fintech Setpoint secured $31 million in a Series B funding round led by 645 Ventures.
- Participants:
- Other investors include Andreessen Horowitz, NextView Ventures, Citi, Vesta Ventures, Fifth Wall, Eltura Ventures, Floating Point, Outrunner Capital, and Wells Fargo.
- Total Funding:
- This round brings Setpoint’s total capital raised to $76 million, building on a $43 million Series A led by Andreessen Horowitz in 2022.
- Company Background:
- Founded in 2021, Setpoint offers tech infrastructure for real estate and asset-backed lending, positioning itself as a “capital markets operating system.”
- Product Offering:
- Setpoint’s software automates debt facility management and centralizes borrower activity on a single platform, helping sectors like real estate, auto, consumer, and SMBs reduce costs and improve operational speed.
- Use of Funds:
- The new capital will be used for R&D, specifically to expand engineering and data science teams and to enhance asset data verification using machine learning and large language models (LLMs).
- Acquisition:
- In 2022, Setpoint acquired Resolute Diligence Solutions, a due diligence provider focused on residential transition loans (RTL) and single-family rentals (SFR).
