Built Technologies, a Nashville, Tenn.-based construction and real estate software provider, received a strategic investment from Citi through its SPRINT program.
The amount of the deal was not disclosed.
The company intends to use the funds to accelerate its growth in commercial real estate (“CRE”) asset management and enable further operational and technological enhancements.
Led by CEO Chase Gilbert, Built is a provider of construction and real estate finance technology. Its software platform streamlines the construction loan administration process by the management of funds and documentation, allowing lenders to administer their construction loans. The technology enables faster funding decisions and draws, while providing real-time transparency and visibility into the status of construction projects through its CRE data model.
The platform is used by more than 250 leading North American lenders and asset managers, and thousands of developers, home builders and contractors.
Citi SPRINT (“Spread Products Investment Technologies”), the strategic investing arm of Citi’s Global Spread Products division (“GSP”), is part of Citi Institutional Strategic Investments (“ISI”). It focuses on incubating innovative fintech companies that provide strategic relevance and next-generation solutions to the financial markets.
FinSMEs
13/04/2023