Commercial Real Estate Platform Lev Raises $170 Million
Lev, the digital commercial real estate transaction platform, has raised $170 million in new funding. The company has closed a $70 million Series B round led by Parker89 and Cross River Digital Ventures with participation from NFX, Canaan, JLL Spark, Animo Ventures, Capital One Ventures, Citi Ventures and Citi SPRINT, StepStone Group and Blitzscaling Ventures.
Additionally, Lev has secured $100 million in debt financing from Cross River’s Strategic Direct Lending Group. The new round brings Lev’s total funding to over $200 million.
Lev says it is transforming the CRE industry’s notoriously manual lending process into a digital experience. Its technology provides loan seekers with instant access to customized financing, based on their precise needs, from leading financial institutions.
“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,” said Yaakov Zar, CEO and co-founder of Lev. “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 honored 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.”
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