Palo Alto-based real estate financing company Point has secured $22 million in Series B funding, according to company database Crunchbase, topping the city’s recent funding headlines. The cash infusion was announced March 20 and led by Prudential Financial.
According to its Crunchbase profile, "Point believes in a different approach. Point wants homeowners to be free of their debts and be able to unlock the wealth in their home. To do that, they make it easy for homeowners to sell small fractions of the equity in their home to investors."
The four-year-old startup has raised two previous funding rounds, including a Series A round in 2017.
The round brings total funding raised by Palo Alto companies in financial services over the past month to $24 million. The local financial services industry has produced 28 funding rounds over the past year, yielding a total of $518 million in venture funding.
In other local funding news, customer service software company Frontdesk AI announced a $2 million seed funding round on March 19, financed by Pi Ventures.
According to Crunchbase, "frontdesk.ai responds instantly via text to calls that you couldn't answer. Your customers can enjoy the convenience of any time, any day bookings and inquiries."
Founded in 2016, the company has raised two previous rounds, including a $1.1 million seed round in 2018.
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