Reigo Investments, a global financial real estate technology company using data science and artificial intelligence (AI) to reshape the residential real estate debt market, announced in late March that is closed $100 million securitization of residential bridge loans led by Cantor Fitzgerald, the company announced.
"The transaction marks the company's second securitization completed since June 2021 – a figure it has now doubled to $200 million. Reigo also today announced it has closed a $13 million Series A funding round led by Caesarea Medical Inc., a strategic investor in fintech, insurance, and private equity sectors. The financing will be used to fund Reigo's continued US expansion and for further research and development investment in its platform."
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"Cantor Fitzgerald is thrilled Reigo was able to upsize their inaugural securitization," Deirdre Harrington, Senior Managing Director at Cantor Fitzgerald, said. "We, along with their investors, continue to have confidence in their cutting-edge technology. We're excited to watch Reigo's future growth and believe it will have a positive impact on both the residential transaction loan (RTL) sector as well as expansion into other sectors."
This is the first ever securitization in the short-term real estate debt market to include as part of its investment policy, the AI based 'Reigo score' criteria, thus recognizing the importance of the technology to reduce default rates and optimize the risk-adjusted return for investors, the company said.
Yariv Omer, CEO and Co-Founder, Reigo Investments said, "the way real estate underwriting is done hasn't been updated for years and is based on a limited number of parameters managed in old Excel spreadsheets. The lending community has realized these archaic systems are not capable of getting them to reach their full potential. With our AI-powered platform, we are focused on helping lenders avoid non-performing loans, make faster investment decisions, and create ultra-diverse portfolios across the US to set themselves apart among their borrowers."
With a best-in-class professional real estate credit team combined with its in-house technology development team, Reigo has perfected its machine learning algorithms based on data gathered from hundreds of sources that scores, rates, and selects the best loans. Today, its algorithmic-based approach is redefining the entire underwriting experience by dramatically reducing non-performing loans, decreasing underwriting time from days to hours, and increasing portfolio diversification.
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