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Built
Fintech
Built Technologies is a Nashville-based fintech company providing software that automates construction loan draw management and payment processing for banks and lenders.
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Built Technologies was founded in 2015 by Erik Rasmussen, Chris Doyle, and Chris Vento, based on direct experience in the construction lending industry observing how manual and paper-intensive the process of managing construction loans remained, particularly the "draw" process by which lenders release loan funds incrementally to builders and contractors as construction milestones are completed and verified, a process that traditionally involved extensive manual paperwork, in-person inspections, and slow approval cycles that created friction and delay for builders, developers, and the banks financing them. Built's software platform digitizes and automates this construction loan draw management process, letting banks and other construction lenders track project budgets, review and approve draw requests, manage lien waivers and compliance documentation, and disburse payments to builders, contractors, and subcontractors more quickly and with better risk visibility than manual, paper-based processes typically allow. The platform serves both residential and commercial construction lending, and has become particularly relevant to community and regional banks, which represent a significant share of construction lending in the U.S. but often lack the in-house technology resources to build sophisticated construction loan management systems themselves. By digitizing draw requests and inspections, Built's platform aims to reduce the risk of construction loan fraud and cost overruns, give lenders better real-time visibility into whether projects are on budget and on schedule, and speed up payment cycles for the builders and subcontractors actually doing the work, who have historically faced significant cash flow strain waiting for slow, manual draw approval processes. Built has raised substantial venture funding from investors including Point72 Ventures, Renegade Partners, and Tenaya Capital, positioning itself as core financial infrastructure for the construction lending industry as construction activity and associated lending volume have grown alongside broader U.S. housing and infrastructure investment.
FOR QUALIFIED INSTITUTIONAL AND ACCREDITED INVESTORS ONLY: Under federal securities laws, private market investments on this platform are available exclusively to Institutional and Accredited Investors. Verification of status required before investing. Private investments involve significant risks including illiquidity, potential loss of principal, and limited disclosure requirements. "Augment" refers to Augment Markets, Inc. and its affiliates. Augment Markets, Inc. is a technology company offering software and data services, not a bank or financial institution. Cash Accounts are provided by Modern Treasury Corp. financial institution partners and through Augment's technology. Augment does not act as a money services business, provide money transmission, or serve as a custodian of funds. Funds held in your Cash Account are not FDIC insured unless expressly disclosed. Full terms available in the Augment Cash Account Agreement. Brokerage services are offered through Augment Capital, LLC, an affiliated broker-dealer and member FINRA/SIPC. "Investment accounts" are not brokerage accounts and do not hold customer funds or securities. Investment advisory services are offered through Augment Advisors, LLC, an SEC-registered investment adviser. Registration with the SEC does not imply a certain level of skill or training. Neither Augment Advisors, LLC nor Augment Capital, LLC provide legal or tax advice; consult your attorney or tax professional regarding your specific situation. For additional information, please refer to Augment Advisors, LLC's Form ADV Part 2A (Firm Brochure) and FINRA BrokerCheck.
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