PropTech company Lev raises $170m across debt and equity round

Lev, a digital commercial real estate transactions platform, has collected $170m in a mixture of debt and equity.

The equity injection comprised of a $70m Series B round led by Parker89 and Cross River Digital Ventures. Other participants include NFX, Canaan, JLL Spark, Animo Ventures, Capital One Ventures, Citi Ventures and Citi SPRINT, StepStone Group and Blitzscaling Ventures.

The remaining $100m came through a debt financing round from Cross River’s Strategic Direct Lending Group.

These funds will enable Lev to enhance its product offering, hire more staff across all departments and bolster its research and development efforts.

Lev claims to be transforming the CRE industry’s manual lending process with a sleek digital experience. Its technology offers loan seekers with instant access to customised financing based on their needs.

The company closed just under $1bn in CRE mortgages, growing ten-times year-over-year.

Lev CEO and co-founder Yaakov Zar said, “Commercial real estate is one of the largest industries on the planet, and has somehow completely resisted the fintech revolution that has taken over virtually every other industry in the past decade.

“We’ve been blessed with the right team, building the right products in a gigantic industry, and that’s the driver behind our continued growth. We’re honoured to have the world’s best investors, as well as leading fintech, real estate and banking institutions helping drive development and adoption of our industry-defining technologies.”

With the close of this funding round, Lev has raised a total of $200m.

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