Setpoint, a NYC-based infrastructure provider for the credit industry, raised $31M in Series B funding.
The round was led by 645 Ventures with participation from Citi and Wells Fargo, alongside Andreessen Horowitz, NextView Ventures, Floating Point, Henry Kravis, Zillow founder’s 75 & Sunny, Vesta Ventures, Fifth Wall, Eltura Ventures, and Outrunner Capital.
The company intends to use the funds expand its research and development sector, with a focus on expanding its engineering and data science teams.
Led by CEO Stuart Wall, Setpoint Setpoint provides a fintech platform that automates debt facility management for auto, consumer, SMB, real estate and other asset-backed borrowers. Its Asset OS software digitizes, organizes, and verifies data, creating a real-time asset source of truth. The complementary Capital OS software automates funding flows and compliance. .
Since its last funding round led by Andreessen Horowitz, the company has achieved remarkable milestones, including a 6x year-over-year revenue growth, and has added customers such as GreenSky, Carvana, Fundbox, Nomura, Capchase, Kyte, Archwest, and Pathway among others.
FinSMEs
13/08/2024