NASHVILLE, Tenn.--(BUSINESS WIRE)--Built, a software platform designed to connect and simplify doing business in real estate, is launching an expansion of its platform to meet the specific needs of real estate owners and developers to improve the movement of money and decision making.
Built's new product for owners aims to address challenges that have plagued the industry for decades. These issues have been identified through feedback from thousands of owners and developers who currently use Built's services via their lenders but continue to depend extensively on spreadsheets and email for managing project budgets, as well as compliance, invoice collection, and payment processes. Built seamlessly integrates budget management with compliance and payables workflow while radically simplifying the draw request process to a single click of a button. Coupled with vendor management and embedded payments, Built helps ensure development deals are completed on time and within budget.
“One of the primary reasons we started Built was to improve how money flows through the construction industry. We knew lenders were an important starting point given their influence and connectivity to owners, but our goal has always been to ‘follow the money’ downstream,” said Built’s CEO Chase Gilbert. “Now we're excited to bring the same level of automation and transparency directly to owners and developers as the key decision makers and managers of projects. And if their lender is already part of Built, they’ll benefit even more from faster access to funds and improved insights––demonstrating the value of the network we’re building.”
Built has unique product advantages for owners and developers due to the strong foundation it has built with lenders over the past decade. Through nearly 300 bank and non-bank lender relationships, the company has developed deep expertise in construction finance processes and compliance requirements and earned the trust of some of the largest capital providers in the U.S. This positions Built to understand owners' needs, facilitating a faster exchange of information and ultimately money that can be used to push projects forward.
“We are genuinely excited to collaborate with Chase and the team at Built, leading a groundbreaking shift in real estate development and construction management. Built’s innovative approach to unify all project participants on a single platform not only streamlines communication and accountability, but also unlocks faster money movement down the value chain,” said Josh Raffaelli, Managing Partner at Brookfield Growth and a Built investor. “Our partnership with Built marks a significant step in transforming real estate development and construction for more effective project delivery.”
To learn more about Built’s financial management and payments product for owners and developers, and to schedule a demonstration, please visit here.
Built is hosting a webinar on the company’s new product on Weds., March 20. To register for the webinar, click here.
About Built
Built is a leading provider of construction and real estate finance technology used by more than 40 of the top 100 construction lenders in the U.S. By making it simple to connect and do business in real estate, Built enables increased efficiency, collaboration, transparency, and business agility—allowing customers to build and manage the communities around us more profitably and with more confidence. Built is used by hundreds of leading North American lenders and asset managers, and thousands of developers, home builders, and contractors. Built has a quarter of a trillion in real estate dollars being actively managed on its platform, representing approximately 10% of all U.S. construction spend. To learn more, visit www.getbuilt.com.
