Setpoint is the latest venture from Ben Rubenstein, a former executive of Opcity and Realtor.com.
A new company that sees itself as the “Stripe of real estate,” and which aims to provide both technology and cash for other startups in, for example, the Power Buying sector — came out of stealth mode on Tuesday.
The company, dubbed Setpoint, is the latest venture from Ben Rubenstein, a serial entrepreneur who previously founded lead-vetting company Opcity and who served as chief revenue officer of Realtor.com.
Setpoint aims to “enable proptech companies to offer their customers frictionless homebuying and selling options including contingent-free all-cash offers,” according to a statement. What that specifically means is the company provides a software platform that handles document collection and verification, and automates parts of the closing process, among other things.
Additionally, Setpoint provides funding to capital intensive companies, such as Power Buyers, so they can continue to close transactions. In total, the company has secured $615 million in allocated capital that it can provide to other firms, it said in a statement.
Setpoint originally launched last year but remained in stealth mode until Tuesday. According to the statement, companies including Homeward, Flyhomes, Reali, and Houwzer are all already using Setpoint’s platform, and the company expects to help facilitate 25,000 transactions this year.
Ben Rubenstein
Rubenstein is serving as…
