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Espresso Capital Provides $10MM Credit Facility to CREtelligent

December 15, 2021, 07:57 AM
Filed Under: Technology

Espresso Capital provided CREtelligent, a one-stop commercial real estate (CRE) due diligence platform, with a $10 million credit facility. The company will use the capital to extend its runway and make strategic investments in its ongoing growth.

“Our RADIUS platform and CRE due diligence services have been embraced by the marketplace, putting us in hyper growth mode,” said Anthony Romano, CEO of CREtelligent. “So far this year, we’ve added over 175 clients and have completed three acquisitions with more on the horizon. The facility from Espresso ensures we can continue to run the play as we prepare for a larger equity raise in the spring.”  

CREtelligent has grown its business by over 300 percent so far this year, adding 4,000 new users to its RADIUS platform as well as 40 new team members.

“The CREtelligent team has built a differentiated, cloud-based platform that simplifies the CRE due diligence process by enabling customers to order, check the status of, receive, and archive all property due diligence reports in one spot,” said Espresso Managing Director, Will Hutchins.  “They have a high-quality product that their customers love and a seasoned management team with an expansive network, extensive industry experience, and a strong reputation for fantastic customer service.”

“Espresso’s team did an extraordinary job of understanding our market, company, and business plan,” noted Romano. “They moved expeditiously to get the facility in place so we didn’t miss a beat.”

“Anthony and the CREtelligent team have built a phenomenal business that is entering its next stage of growth,” said Lokesh Sikaria, Founder and Managing Partner, Moneta Ventures. “Their ability to postpone a large dilutive equity raise by tapping into Espresso Capital’s innovative financing facility will result in significantly increased value for all shareholders. We’re fortunate to partner with Espresso and CREtelligent.”

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