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NEW YORK, Dec. 22, 2020 /PRNewswire/
Metechi has raised $5 million in funding for its AI-powered debt trading platform that facilitates the buying, selling, origination, and syndication of commercial loans at scale.
The investment round was led by notable angel investors including Shimon Weintraub, the Co-Founder of Brack Capital Group. Former CEOs of Bank Hapoalim and prominent CRE investors, Zion Kenan and Ari Pinto also took part.
The funding round facilitates Metechi s growing success with over 1,000 US banks, institutional investors, and brokers already on the platform. Buyers and sellers are granted access to this vast, pre-screened network that continues to grow by the day.
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The following is a contributed article from a content partner of Benzinga
In the real estate business, these are the best of times and the worst of times. On the one hand, the events of 2020 have buffeted the entire industry, with commercial real estate (CRE) particularly badly affected. The vacant office blocks and half-finished construction projects have provided an opportunity, however, for savvy investors to swoop in and pick up cheap NPLs. Capitalizing on this trend is AI startup Metechi, which has completed a $5M raise to refine its platform for brokering commercial real estate deals.
Going Direct to Offload Non-Performing Loans
Metechi Raises $5 Million for AI-Powered Debt Trading Platform
Metechi, a refinancing platform for distressed assets such as real estate, has completed a $5 million funding round. A number of leading angel investors participated in the round including Brack Capital Group Co-Founder Shimon Weintraub as well as Zion Kenan and Ari Pinto.
With more than $230 million of deals already active on Metechi’s lending market, the platform has begun to gain traction. Its Commercial Lenders Marketplace is used for buying, selling, and syndicating commercial loans such as CRE, C&I, and NPLs (nonperforming loans). The minimum deal size stands at $20 million, with a minimum ticket size for buyers of $5 million. By splitting debt into tranches, sellers can maximize uptake, while maintaining confidentiality; all participants are pre-screened and purchasers must be qualified.