Setpoint Announces $31M Series B Financing

Gunderson Dettmer represented client Setpoint, an operator of a real estate transaction platform that supports funding and operations, in its $31 million Series B financing led by 645 Ventures with significant strategic investments from Citi and Wells Fargo and participation from Andreessen Horowitz and more. Setpoint aims to remove error-prone funding operations tasks to facilitate a more systematic loan sale and syndication process. The new capital will enable the company to leverage its LLMs to enhance the verification of asset data.

In the announcement of the transaction, CEO and Co-founder Stuart Wall said, “Technology has made getting a loan easier – think of leasing a car online or getting a student loan. What’s less understood is what happens next: originators and capital providers manage relationships over email, Excel and FTP folders. These operational processes create risk for capital providers, inefficiency for originators and limit access to borrowers.”

The Gunderson Dettmer deal team was led by Adan Muller and included Aaron Rubin, Mark Foster, Alex Devine, Madeline Koo and Brandon Joseph.

Companies
Setpoint
645 Ventures
Citi
Wells Fargo
Andreessen Horowitz