Anyone who has filled out a mortgage application is familiar with the eye-glazing stack of paperwork that informs the bank about the current state of your finances. Companies too wrestle with this sort of paperwork, and that's especially the case with firms that make heavy use of credit, which obliges them to keep track of mounds of financial data on an ongoing basis. For the most part, they do this by passing massive Excel sheets back and forth, a tedious and labor intensive process. One startup, though, thinks it has cracked the code on how to streamline these tasks.
On Tuesday, Austin-based Setpoint announced it has raised a $31 million Series B round, which was led by 645 Ventures and included significant strategic investments from Citi and Wells Fargo. The company's clients include online car seller Carvana as well as home buying startup Pathway.
