Intel on the commercial real estate market is a lucrative business that has attracted big name investors like 500 Startups and Bain Capital
Israeli-American fintech startup CrediFi will have a very happy Valentine’s Day indeed after receiving a $13 million Series B financing round from new investors, the company announced Monday. The lead comes from Liberty Interactive’s Liberty Israel Venture Fund with more cash coming from the 31 VENTURES Global Innovation Fund, Battery Ventures, Carmel Ventures, OurCrowd and Stax.
CrediFi sells information and analytics services for commercial real estate (CRE) financing that fancies itself a “Bloomberg or Thomson Reuters” for commercial real estate according to what the company’s CEO told Geektime back in 2015. They provide data on loans, property, financing deals, benchmarks, and post-deal asset monitoring.
“Step one to improving this vast, $15 trillion dollar market is to create transparency in understanding borrowers, lenders, and commercial properties on an ongoing basis. We’ve proven we can,” wrote CrediFi’s Founder and CEO Ely Razin in a press release, asserting that commercial real estate markets are going through major industry changes and arguing new software like CrediFi’s can take advantage of demand. “The next step is to arm brokers, lenders, and borrowers with a next-generation of tools to help them even further.”
They claim that this new round brings them to a total of $23 million raised and that a chunk of the new money will go towards launching a new product in the coming months.
Razin added in his statement that, “Our loans database includes recently added agency data sets from Freddie Mac, HUD, LIHTC, and SBA, among others, which for the first time are aggregated on a single platform alongside the worlds of balance sheet and securitized CRE loans.”
Competitors in the CRE data sector include Justin Analis’s Rentlyitics which has raised $17.85 million according to Crunchbase, Bain-backed Reonomy, Canaan Partners portfolio startup Compstak, DMG investee Propstack, ReScourt, and 500 Startups-backed BetterView.
The Liberty Israel Venture Fund has been busy of late after taking part in Secret Double Octopus‘s $6 million Series A funding last month. Other rounds include leading a $3.3 million Series A in online greeting card company Jifiti, participating in Neura’s $11 million Series A round, and NSLComm’s Series A for $3 million.
CrediFi was founded in 2014. They have 75 employees spread between their offices in Tel Aviv and New York City. Liberty’s Motti Lichtenstein will join the company board.