Real estate lending platform Lev has raised $ 30 million in a Series A round led by Greenspring.
Existing supporters NFX, Canaan Partners, JLL Spark, ANIMO Ventures and Ludlow Ventures participated in the round.
Lev claims that the $ 30 million figure is the largest ever in the area of commercial real estate (CRE) financing. The new cash will be directed to expanding the team in New York, Miami and Los Angeles.
Startups say it’s a “full-stack transaction platform” for the life cycle of commercial real estate investment. Lev covers analytics, financing and closing, monitoring, services and disposal.
The company states that it uses machine learning technology to understand the portfolio of real estate owners and identify the right lender for each transaction.
Founded in 2019, Lev claims to have completed $ 100 million worth of loans in 2020 and expects to complete more than $ 1 billion in 2021.
Series A has raised a total of $ 44.8 million in six funding rounds, with the latest reaching $ 10 million in March.
“CRE is a huge space with an addressable market of over $ 40 billion,” said Yaakov Zer’s founder and CEO.
“But the industry is sticking to outdated workflows, and it takes time to leverage technology to prioritize customers.
“We recognize that every transaction has its own human factors. Lev aims to empower the people behind the transaction and make them smarter and more efficient. I am. “
US Real Estate Financing Platform Lev Raises $ 30 Million in Series A
Source link US Real Estate Financing Platform Lev Raises $ 30 Million in Series A