Setpoint Raises $31M in Series B Funding
Summary
Setpoint, a NYC-based infrastructure provider for the credit industry, raised $31M in Series B funding. The company intends to use the funds expand its research and development sector, with a focus on expanding its engineering and data science teams. Led by CEO Stuart Wall, Setpoint Setpoint provides a fintech platform that automates debt facility management for auto, consumer, SMB, real estate and other asset-backed borrowers. The complementary Capital OS software automates funding flows and compliance. Since its last funding round led by Andreessen Horowitz, the company has achieved remarkable milestones, including a 6x year-over-year revenue growth, and has added customers such as GreenSky, Carvana, Fundbox, Nomura, Capchase, Kyte, Archwest, and Pathway among others.