Andreessen Horowitz, NextView Ventures, Citi, Vesta Ventures, Fifth Wall, Eltura Ventures, Floating Point, Outrunner Capital, Wells Fargo, and other investors also participated in the round.

With this latest round of funding, Setpoint has received a total of $76 million, building on its $43 million Series A led by Andreessen Horowitz in 2022.

Established in 2021, Setpoint bills itself as the “capital markets operating system” and offers technology infrastructure for asset-backed and real estate financing.

The company claims that by cutting costs and improving speed for both borrowers and lenders, its software helps small and medium-sized businesses (SMBs), the auto, real estate, and consumer industries to "grow profitably." The software automates debt facility management and centralizes all borrower activity into a single platform.

The additional funding will be utilized to support ongoing research and development, with an emphasis on growing the teams working in data science and engineering. The company also intends to use large language models (LLMs) and machine learning to improve the computation and verification of asset data.

The business purchased Resolute Diligence Solutions, a due diligence service with a focus on single-family rentals (SFR) and residential transition loans (RTL), last year.