Setpoint.io
Overview
Setpoint.io is a pioneering fintech company established with the mission of transforming the infrastructure behind real estate and credit markets. Founded in 2021 by Stuart Wall, Ben Rubenstein, and Michael Lam, Setpoint.io has rapidly emerged as a vital player in asset-backed lending. Headquartered in Austin, Texas, and with a funding total that surpasses $700 million, the company offers a Software as a Service (SaaS) platform that digitizes the workflows associated with debt facility management. Setpoint.io aims to automate processes traditionally managed through manual methods, thereby improving both speed and accuracy for borrowers and lenders alike.
Recent Developments
- October 2024: Setpoint.io continued its upward trajectory by facilitating a landmark $209 million Residential Transition Loan (RTL) securitization. This rating from Morningstar DBRS marks a significant milestone in the company's journey, showcasing its expertise in robust diligence and capital markets technology.
- August 2024: The company announced a successful $31 million Series B funding round led by 645 Ventures, with significant contributions from financial giants like Citi and Wells Fargo. This round was aimed at expanding Setpoint's research and development teams, with a focus on integrating machine learning into asset verification processes.
- March 2024: In a strategic collaboration with Fundrise, Setpoint.io was approved to serve as the Diligence, Calculation, and Paying Agent for one of its credit facilities, highlighting its growing influence in the fintech ecosystem.
- June 2024: Setpoint launched its Calculation & Paying Agent services to streamline funding operations, eliminating the burdens of manual spreadsheet management in complex financial transactions.
- January 2024: The launch of Setpoint Analytics marked a significant upgrade to the company's Capital OS platform, providing real-time insights and interactive dashboards for more informed decision-making.
Company Information
| Attribute | Information |
|---|---|
| Founding Date | 2021 |
| Headquarters | Austin, Texas, USA |
| Founders | Stuart Wall, Ben Rubenstein, Michael Lam |
| Revenue | $16.8 million (2023) |
| Key Investors | Andreessen Horowitz, Wells Fargo, Citi, 645 Ventures |
| Industry | Fintech - Real Estate & Credit Infrastructure |
| Number of Employees | Approximately 80 |
Early History
Setpoint.io was born from a vision to tackle inefficiencies within the real estate and credit markets. During its founding year of 2021, the company quickly raised initial funding which allowed it to develop a platform aimed at modernizing debt management processes. The founders, drawing from their extensive experience in technology and real estate, sought to build a product that would digitize traditional workflows, offering both speed and accuracy. By June 2022, Setpoint.io emerged from stealth mode, launching its SaaS platform and securing $615 million in debt capital. This foundation attracted a clientele of leading proptech innovators like Homeward and Flyhomes.
Company Profile and Achievements
Setpoint.io operates at the intersection of technology and finance, providing a comprehensive platform that automates the end-to-end processes of asset-backed lending.
- Business Model: The core offering is its Asset OS and Capital OS software, which streamline and automate the funding lifecycle, allowing both borrowers and lenders to manage their capital requirements efficiently.
- Major Achievements:
- Successfully closed a $43 million Series A funding round in late 2022, led by Andreessen Horowitz.
- Underpinned over $2 billion in real-estate transactions with its technology.
- Recognized as a preferred technology partner by major institutional investors like Wells Fargo and Citi.
- Product Offerings: The platform supports debt facility management for various real estate models, including bridge funding and fractional ownership, through its automated workflow solutions.
- Strategic Acquisitions: Acquisition of Resolute Diligence Solutions in 2023 enhanced its due diligence capabilities in residential loans.
Current Operations and Market Position
Today, Setpoint.io serves as a backbone for the real estate fintech ecosystem, providing critical infrastructure for efficient credit transactions. The platform has facilitated countless transactions, processing over $18 billion annually across ABS and ABL markets. Setpoint.io has established a strong market position through partnerships with major financial institutions, and by offering an unparalleled speed and accuracy that have set new benchmarks in capital markets workflows. The company is noted for its ability to offer scalability and efficiency in an industry historically plagued by manual processes and operational delays.
Conclusion
Setpoint.io has established itself as a transformative force in the fintech space, particularly in the realms of real estate and credit infrastructure. With innovative technology platforms that radically alter traditional workflows, the company empowers both lenders and borrowers to engage in swift, error-free transactions. As Setpoint.io continues to expand its client base and investor backing, its potential to redefine asset-backed lending becomes ever more apparent. In alignment with strategic growth initiatives and current financial trends, Setpoint.io is poised to lead the industry forward, providing a reliable infrastructure that could redefine the future of real estate transactions and credit systems.