Built Technologies raises capital to tackle construction lending

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Construction Finance Solution Company Built Technologies Raises $31 Million Photo Credit: Built Technologies Built Technologies, a Nashville, Tennessee-based construction lending software company, announced it has raised $31 million in Series B funding led by Goldman Sachs Investment Partners.

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Why Builders And Private Investors Bet On Spec Houses. Banks in construction lending include Timberland Bancorp ( TSBK) in Hoquiam, Wash., Bank of the West in San Francisco, HomeStreet ( HMST) in Seattle and Associated Banc-Corp ( ASB) in Green Bay, Wis. Timberland is now making construction loans to spec builders.

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Built Technologies is an IT company specializing in mobile application development services. Its collaboration software brings the draw management process online and helps reduce construction loan risk and increases loan profitability, transforms the borrower experience, and simplifies compliance.

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How a Nashville tech company attracted Silicon Valley’s attention without trying. It took nine months for San Francisco-based investor Mark Goldberg to convince Built President Chase Gilbert to let his venture capital firm invest in the fintech company, which aims to ease the construction-loan process.

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