Built Technologies, a leading construction and real estate software providers in the U.S., has received investment from Citi through its SPRINT program.
Citi SPRINT focuses on incubating innovative fintech companies that provide strategic relevance and next-generation solutions to the financial markets.
Built plans to use the investment to accelerate its growth in commercial real estate asset management and enable further operational and technological enhancements. Through the utilization of Built’s platform, Citi will have the opportunity to introduce digitization solutions to other lenders, developers, and borrowers in the ecosystem.
“The investment from Citi SPRINT opens a new market opportunity for Built to gain traction with one of the largest U.S. financial institutions in the real estate industry,” said Chase Gilbert, CEO and Co-founder of Built.
Citi Community Capital, another business in GSP, provides financial products to help affordable housing developers construct, refinance, and acquire affordable housing across the country.
“Built has achieved strong growth due to its ability to help lenders achieve efficiencies, expedite revenue generation, and serve their customers more effectively,” said Katya Chupryna, Director, SPRINT. “By investing in Built and bringing their innovative solutions to Citi, we empower Citi Community Capital and other CRE lending businesses to grow faster and serve clients better.”
More than 250 banks and private capital providers use Built’s solution to create a centralized system of record and accelerate the flow of capital from lenders to borrowers, contractors, and vendors.