Built Technologies, a Nashville-based fintech construction finance software and construction payment technology company, has closed an $88 million Series C funding. The Series C was led by Addition, Lee Fixel’s new fund. Fixel, who will be joining Built’s board, has previously backed startups including Flipkart, Peloton and SurveyMonkey, according to a press release.
Built will use the funds to expand its Built for Lending product suite and accelerate its go-to-market efforts to serve more bank and non-bank construction lenders throughout the U.S. and Canada. It also plans to invest in ways it serves commercial owners, developers, homebuilders and other construction companies within its Built for Construction division.
Built is focused on improving the financial performance of the $14 trillion global construction industry with an emphasis on modernizing the movement of money amongst its key stakeholders. Software, payments, B2B marketplace and data solutions are the “tools” used to serve the various stakeholders in this complex ecosystem.