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Built Technologies closed a $23.6 million funding round

Built Technologies, a Nashville-based fintech has recently raised a $23.6 million round of funding. The equity shares were originally sold on June 30th.

Fast-growing Built is coming off a $125 million capital raising in September at a $1.5 billion valuation, catapulting the business into “unicorn” territory — a buzzy Silicon Valley moniker for startups with a ten-digit-plus valuation. Built had raised $242 million during the course of its existence at the time.

Built’s platform, founded in 2015, acts as a middleman for people involved in construction loans, aiming to streamline the way borrowers and contractors get cash from lenders and manage loan payments. As of last year, the company employed 125 individuals at its 30,000-square-foot Grassmere headquarters.

Built’s platform had managed the financing of more than $135 billion in construction projects as of September, representing 200,000 businesses, homebuilders, land developers, and residential projects. U.S. Bank Housing Capital Company, Fifth Third Bank, Citizens Bank, Regions Bank, and Pinnacle Financial Partners are among its lender clients. Lennar Multifamily Communities, 84 Lumber, PRG Group, Homebound, NPR, and Genesis Homes are among its contractor and developer clients.



This post first appeared on Sefly News, please read the originial post: here

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Built Technologies closed a $23.6 million funding round

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