The real estate financing platform provider received backing from JLL, Citi and Capital One to make commercial property transactions smoother.
Lev, a New York-based online commercial real estate financing platform, has secured $170m in debt and series B equity funding from investors including real estate manager JLL and financial services firms Capital One and Citi to simplify commercial real estate transactions.
Founded in 2019, Lev provides a marketplace for commercial real estate financing, giving businesses access to lenders and streamlining what is traditionally a clunky process. It said it would be using the capital to boost its product offerings, recruit talent across the company and invest in research and development.
The company claims it closed $1bn of commercial real estate mortgages last year, having grown 10-fold year on year.
Parker89 and Cross River Digital Ventures co-led the $70m equity portion of the round and were backed by Canaan Partners, NFX, Animo Ventures, StepStone Group and Blitzscaling Ventures. Cross River’s Strategic Direct Lending Group provided $100m in debt financing in addition…
Fernando Moncada Rivera
Fernando Moncada Rivera is a reporter at Global Corporate Venturing and also host of the CVC Unplugged podcast.
