Best automation opportunities for loan processing

Join our expert panelists to learn how lenders can achieve their goals using the integration of intelligent document automation and RPA technology.

4 Strategies to Strengthen Customer Relationships

Discover the right strategies to execute fast-acting campaigns, track results and improve your bottom line – all while strengthening customer relationships.

Real Estate Tech Virtual Demo Day

Join us on March 16 to discover the most innovative operations and closing management tech solutions for the real estate industry.

An Honest Conversation on minority homeownership

In this episode, Lloyd interviews a senior research associate in the Housing Finance Policy Center at the Urban Institute about the history and data behind minority homeownership.

FintechIPO / M&A

Built Technologies closes $88 million Series C funding round

Firm has plans to expand its suite of products

Multi-year HousingWire Tech100 winner Built Technologies, a construction finance software and construction payment technology company, closed an $88 million Series C funding round.

Built announced it plans to use the funding to expand its Built for Lending product suite, as well as to accelerate its efforts to serve more bank and nonbank lenders in the U.S. and Canada. Additionally, the company is aggressively investing in the ways it serves commercial owners, developers, homebuilders and other construction companies within its Built for Construction division.

The Series C was led by Addition, venture capitalist and investor Lee Fixel’s new fund. Fixel, who will also be joining Built’s board, has previously backed startups including Flipkart, Peloton and SurveyMonkey. The round had material participation from fintech-focused Canapi Ventures and continued participation from Index Ventures, Goldman Sachs Investment Partners, Nyca Partners, Fifth Wall Ventures and Nine Four Ventures. Additional investors joining the round include Jordan Park, Renegade Partners, Green Point Partners and the Witkoff Group, along with some notable individuals such as Jackie Reses, Zander Lurie, Dan Goldsmith and Lowell Putnam.

This funding round came in significantly higher than its Series B funding round of $31 million, which was led by Goldman Sachs. It brings Built’s total capital raised to more than $137 million to date.

“The construction industry is reliant on capital to thrive, yet money movement and spending decisions are antiquated from start to finish,” Built co-founder and CEO Chase Gilbert said. “Modern construction finance requires new infrastructure altogether. The Built team is working hard to streamline construction lending and construction spending for all construction stakeholders.”

Last year, Built acquired lienwaivers.io, a provider of lien waiver management and payment solutions for commercial and residential construction. With this acquisition, Built stated that it became first construction finance platform to provide solutions for all key stakeholders involved in the construction finance process, starting from the lender, down to the supplier.

Leave a comment

Most Popular Articles

Chopra warns of post-COVID housing market fallout

Rohit Chopra warned of housing market fallout and said he would focus on helping struggling homeowners at his Senate Confirmation hearing.

Mar 03, 2021 By

Latest Articles

What to do about the appraiser shortage

Overcoming the current appraiser shortage is the first hurdle in restocking the shallow field. But compounding the problem is a lack of appraisers entering the profession.

Mar 05, 2021 By
3d rendering of a row of luxury townhouses along a street

Log In

Forgot Password?

Don't have an account? Please