Announcing Setpoint’s $31 Million Series B Funding

When we founded Setpoint, our mission was clear: to build trust in our credit system. From the start, we’ve been dedicated to transforming the archaic processes of debt facility management into a modern, automated, and error-free system.

Since then, we’ve grown to become the leading capital markets operations system, helping 100+ companies—including GreenSky, Carvana, Fundbox, Nomura, Capchase, Kyte, Archwest, Pathway—streamline their funding operations and grow their businesses.

I’m excited to announce that Setpoint has raised $31 million in Series B funding and $76 million to date. We’re thrilled to have 645 Ventures lead the round, with significant strategic investments from Citi and Wells Fargo, and participation from Andreessen Horowitz, NextView Ventures, Floating Point, Henry Kravis, Zillow founder’s 75 & Sunny, Vesta Ventures, FifthWall, Eltura Ventures, and Outrunner Capital. The continued support from our investors highlights the universal need for debt management across all industries and company sizes.

Having the world’s largest financial institutions, Wells Fargo and Citi, invest in Setpoint is tremendous validation. It’s testament to Setpoint’s trajectory as the preferred technology partner for the world’s largest financial institutions and users of capital.

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.

Setpoint is a tech company on a mission to make capital efficient and error-free. We remove error-prone funding operations tasks to facilitate a more systematic loan sale and syndication process. This results in improved standardization and liquidity for our customers.

“While we’ve observed substantial innovation between borrowers and originators, originators and lenders still interact with the capital markets in relatively archaic ways. Setpoint’s software is poised to change that, driving efficiency and accuracy for major credit ecosystem stakeholders like Citi,” said Patrick Brett of Citi Spread Products Investing Technologies (Citi SPRINT), who co-invested in Setpoint with Jeff Flynn of Citi Ventures.

C. Thomas Richardson, Head of Principal Technology Investments at Wells Fargo Strategic Capital, added, “We are excited to provide growth capital and to expand our relationship with Setpoint. Their deep domain expertise allows them to continue developing relevant technology, which is enhancing the efficiency and automating the workflow of credit operations.”

At Setpoint, we focus on impact and award no points for politics or effort without impact. This Series B allows us to continue to double down on areas of tremendous impact: leveraging machine learning and large language models (LLMs) to enhance the verification of asset data and calculations, driving further innovation in the credit infrastructure space.

This year alone, we’ve launched Calculation Agent and Borrower Report Approvals, transforming a manual spreadsheet process into an automated way to verify and approve borrower reports, enabling capital providers to deploy capital faster and borrowers to receive funding more quickly. On the diligence side, we facilitated diligence for the fourth-ever rated Residential Transition Loan [RTL] securitization in history. We also built a proprietary AI Asset Allocation & Portfolio Optimization Engine, which recommends optimal, compliant asset assignments with AI, saving some of our customers up to 65 basis points on their cost of capital.

“Setpoint has become a cornerstone in the asset-backed ecosystem, earning the trust of the biggest financial institutions,” said Jon Smith, Principal at 645 Ventures. “We are proud to lead this round and support their vision in redefining the credit infrastructure landscape.”

We believe that trust and credit are the foundation of society. We’re just beginning to build an enduring product and company that will redefine how technology can build trust in credit. Thank you to our customers and partners for joining us on this journey. If you’re interested in being part of our team, check out our open roles.

Best,

Stuart Wall