Agents of Tech

CRE Financing Platform Lev Raises $30M in Series A Round

Lev, the online commercial real estate financing transaction platform, announced today a Series A round of $30 million led by Greenspring, with participation from First American Financial. The round was joined by existing investors, including NFX, Canaan Partners, JLL Spark, Animo Ventures and Ludlow Ventures. The amount will further Lev’s mission to help CRE investors get the best financing for their properties by combining the collective knowledge of Lev’s team with hundreds of millions of data points.

“CRE is a massive space, with an addressable market of more than $40 billion for CRE financing alone, yet the industry has been entrenched in an outdated workflow, slow to take advantage of technology to help put their customers first,” said Yaakov Zar, founder and CEO of Lev. “We hope to change that by reimagining the entire experience to provide our customers with the seamless, transparent, fast and fair workflow that they expect and deserve. We recognize that there is a uniquely human factor to every transaction; Lev aims to empower the people behind the transaction and make them smarter and more efficient.”

The funds raised will primarily be used to expand Lev’s team, in their New York City headquarters, Miami R&D center and Los Angeles outpost, as well as through remote positions. Continued investments will be made in product development and to expand Lev’s services. Lev closed approximately $100 million of loans in 2020, their first year in existence, and is projected to close over $1 billion in 2021.

“Since we started working with Lev, we’ve been repeatedly impressed with their deep knowledge of CREF and ability to execute on all types of complex transactions,” said Steven Kachanian, managing principal at Klosed Properties. “The expertise Lev’s team brings, combined with tools that help my team and I stay current on how our deal is progressing makes it clear that they have envisioned and redefined the entire financing process, and then some.”

Lev is a full-stack transaction platform for the lifecycle of a commercial real estate investment, from analysis, financing and closing to monitoring, servicing and when the time comes, disposition. Lev products are built by an inhouse team blending their knowledge of capital markets with cutting-edge technology, processing a multitude of loan data through custom machine-learning software to handle even the most complex deals.


Sign Up for Newswire

    [ctct ctct-115 type:hidden 'Mann Report Newswire::#158']