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 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.”
Built’s CEO Chase Gilbert said:
“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. 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.”
Josh Raffaelli, Managing Partner at Brookfield Growth and a Built investor.
“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. Our partnership with Built marks a significant step in transforming real estate development and construction for more effective project delivery.”