Big news today! We just closed our $31 million Series B, bringing our total raised to scale Setpoint to $76 million. See the full story on Fortune: https://lnkd.in/eUQwgJQb Thirteen firms participated, including Citi and Wells Fargo, two of the largest financial institutions. The round was led by 645 Ventures alongside Andreessen Horowitz, NextView Ventures, Floating Point, Henry Kravis Zillow founder’s 75 & Sunny, Vesta Ventures, Fifth Wall, Eltura Capital Management and Outrunner Capital. Setpoint grew 600% last year to just under $20M of revenue with almost no burn. This strategic investment positions Setpoint as THE new standard for capital markets operations. We’re just getting started. When Setpoint began, our mission was clear: to build trust in our system of credit. Our system of trust and credit powers everything - from houses to airplanes to small businesses to grocery store produce. This system has become exponentially larger and more complicated. Hundreds of billions move daily between financial institutions and counterparties to finance assets. But the infrastructure underlying these transactions hasn’t kept up. Data and agreements are often analog, calculations are done in Excel, approvals happen in email. Mistakes are common and transactions take days. Setpoint is here to change that! This funding will fuel our continued innovation in asset-backed finance. Capital providers and issuers trust Setpoint to make transactions instant, error-free, trustworthy, and effortless. Trust and credit are the foundation of society. We’re just beginning to build a lasting product that will redefine how technology strengthens both. Thank you to our customers, investors, advisors, and partners for being part of this journey. Big times ahead!
