Ben Rubenstein, recently departed from a leadership role at Realtor.com, has co-founded a b-to-b venture that provides background support to home-finance companies.
Setpoint offers software and financial services to IBuyers, rent-to-own companies and other firms that help consumers finance home purchases. Its clients include Homeward, Flyhomes, Reali and Houwzer, according to Austin Inno.
Setpoint launched with $615 million in debt funding. The company tracks assets and property information during home closings and provides document verification for transaction parties, the news site reported. It also helps with cash-offer approvals, home valuations and debt-facility management.
Setpoint says its services can help clients close home transactions within 24 hours. Founded just this year, the firm says it’s on track to facilitate 25,000 home transactions in 2022.
Rubenstein previously co-founded and served as CEO of Opcity, a vendor of qualified sales leads to real estate agents. After Opcity was bought out by Realtor.com parent News Corp for $210 million in 2018, Rubenstein joined Realtor.com, where he stayed four years, ending his tenure as chief revenue officer.
Rubenstein created Setpoint with Stuart Wall, founder of Signpost, a vendor of customer communications software for real estate agents. Rubenstein is serving as Setpoint’s president, Wall as its CEO.
“Generally, properties go to the highest bidder with the most liquid access to cash. As a home seller, taking quick cash is always more desirable than contingent offers that take more time and involve more risk,” Rubenstein told Austin Inno. “Setpoint streamlines the process of buying and selling homes, enabling a stronger pathway to wealth generation for Americans.”