NEW YORK, Jul 20, 2021 / PRNewswire / – A lion, the leading online platform for commercial real estate finance transactions, today announced the Series A round $ 30 million led by Greenspring, with contributions from First American Financial. Existing investors have joined the round, including NFX, Canaan Partners, JLL Spark, Animo Ventures and Ludlow Ventures. The amount raised is one of the largest to date in Commercial Real Estate Finance (CRE) and will help fulfill Leo’s mission to help CRE investors obtain the best financing for their property by combining the collective knowledge of Leo’s team of experts with hundreds of professionals. millions of data points.
“CRE is a vast space with an available market of more than $ 40 billion to fund only CREs, however the industry has become entrenched in an outdated workflow that is slowly taking advantage of technology to help its customers put their customers first, ”said Yaakov Zar, founder and CEO Lev. “We hope to change that by reimagining the entire experience to provide our clients with the seamless, transparent, fast and fair workflow they expect and deserve. We recognize that there is a unique human factor involved in every transaction; Leo seeks to empower people. per transaction and make them smarter and more efficient. “
The funds raised will be mainly used to expand the Leo team at their New York headquarters, Miami R&D center, and Los Angeles outposts, as well as through remote positions. Investment in product development and expansion of Lev’s services will continue. The lion closed approximately $ 100 million loans in 2020, in the first year of their existence, and, according to forecasts, 1 billion dollars in 2021.
“Since we started working with Lev, we have been repeatedly impressed with their deep knowledge of CREF and their ability to perform all types of complex transactions,” said Stephen Kachanyan, Managing Director of Klosed Properties. “The experience that Leo’s team offers, combined with the tools that help my team and me stay on top of how our deal is progressing, makes it clear that they foresaw and overhauled the entire funding process, as well as a few others.”
Lev is a full-cycle transaction platform for the entire lifecycle of a commercial real estate investment, from analysis, financing and closure to monitoring, maintenance and, when the time is right, placement. Lev’s products are created by an in-house team combining their knowledge of capital markets with cutting edge technology, processing a wealth of credit data with dedicated machine learning software to handle even the most complex transactions.
“We strongly believe that Leo is paving the way for the future of the industry by providing technologies that not only make transactions more efficient, but also ensure that their clients get better funding and a better experience,” said Hunter Somerville, General Partner of Greenspring Associates. “And Leo does it all by working with some of the largest and most established organizations in the industry. Their willingness and perseverance to truly make this industry a better place is a vision that we not only believe will come true, but will set the standard for moving forward CRE and we are delighted to be part of it. ”
For more information please visit www.levcapital.com…
Leo helps commercial property owners and investors get the best financing for their property. Lev’s capital markets experts have superpowers with machine learning technology to help understand your portfolio, identify the best lender for each transaction, and close the deal quickly, keeping customers informed every step of the way. Founded in 2019, headquartered in Soho in New York. Operations with left rates on all types of assets throughout the country. For more information visit www.levcapital.com
Contact: Sarah Mann, [email protected]
SOURCE Lev Capital