Participated · Series A · Dec 2022

Setpoint provides infrastructure software (Asset OS and Capital OS) that digitizes, organizes, and verifies asset and funding data to automate credit facility management. Its platform targets originators, lenders and capital markets participants across auto, consumer, SMB and real-estate asset-backed lending. Setpoint reports 6x year-over-year revenue growth and facilitates nearly 100,000 transactions annually; its affiliated capital provider has funded over $3.5 billion in real-estate transactions managed on the platform. The company is approved by major rating agencies including Moody’s, DBRS, KBRA and S&P. Setpoint aims to reduce errors and inefficiencies caused by manual processes and to make credit transactions faster and more accurate. Going forward it plans to expand engineering and data-science teams and leverage machine learning and large language models to improve asset-data verification and calculations. Setpoint has built software that acts as an operating system for originators, aiming to be the “Stripe for credit” by making loan transactions instant, automated and error-free. Its platform verifies and stores documents, automates interest-rate calculations and digitizes assets such as homes to speed closings. The company initially focused on proptech and real estate transactions and counts customers including Opendoor, Offerpad, Orchard, Backflip and Wander. Setpoint also operates as a lender, and has loaned or guaranteed over $2 billion in capital to companies like Homeward, Opendoor, Flyhomes and Houwzer, while using its software to reduce capital risk. The SaaS business reported revenue growth of 13x year-over-year through Q3 2022 and net dollar retention of +224% per quarter in its first five quarters. It is expanding beyond real estate into broader asset-backed lending, including single-family rental, fractional models and rent-to-own, and is scaling its engineering and operations teams. The company said it was on track to power 25,000 home transactions this year and expects to power more than 100,000 in 2023. Setpoint provides a flagship SaaS platform that automates and accelerates modern real estate transactions for proptech companies, offering workflow tools for document collection and verification, collateral management, treasury services, facility management, and expedited valuations. The company pairs that technology with $615 million in bridge debt capital, which it lends to proptech partners to finance transactions and enable contingent-free cash offers. Setpoint's platform powers “Buy with Cash” and “Buy Before You Sell” options and is already used by Homeward, Flyhomes, Reali, and Houwzer. The company announced general availability of its technology and said it is on track to help power 25,000 home transactions in 2022. Setpoint says its tools can reduce closing times from weeks to as little as 40 minutes once parties are in contract. Founded in 2021, Setpoint aims to make homeownership more accessible by combining out‑of‑the‑box infrastructure and flexible capital to scale alternative real-estate financing models.