Senior Counsel, Setpoint
$270-300k
OTE
+ Stock Options
Infrastructure for the future of asset-based lending
Be an early applicant
Infrastructure for the future of asset-based lending
21-100 employees
Be an early applicant
$270-300k
OTE
+ Stock Options
21-100 employees
Company mission
To build trust in our system of credit.
Role
Who you are
- A deal enthusiast: You love working on transactions and enjoy taking ownership to manage all of the pieces to bring a transaction to close
- A negotiator and problem solver: You make decisions and provide practical guidance based on not only your legal background but also reasoning that aligns with the company’s commercial interests
- A great communicator: You possess excellent written and verbal communication skills and attention to detail without significant oversight
- A multi-tasker with strong organizational skills: You can manage multiple priorities and set frameworks for how to execute them effectively within their deadlines
- 7+ years of experience at a top law firm drafting and negotiating a variety of credit agreements and related documentation, including asset backed facilities. Experience with real estate collateral is a plus. In-house experience preferred but not required
- Ability to prioritize appropriately, and meet deadlines in a high-pressure environment
- JD degree from a top tier law school, admission to the New York or Texas bar in Good Standing
- Flexible, positive, and team oriented approach to work
What the job involves
- Setpoint Capital is looking for a Senior Counsel to join our team!
- This is an opportunity to use your legal expertise to have a big impact on a growing credit platform. Reporting to our General Counsel, you will help to oversee credit transactions
- Work closely with the Managing Director and Investment Principals, draft and negotiate credit facility documentation, including term sheets, loan agreements, master repurchase agreements, amendments and other miscellaneous agreements
- Coordinate transactions across other Setpoint Capital functions, including regulatory, custody and compliance
- Oversee closings and manage outside counsel
- Keep up to speed with industry trends and legal and regulatory market changes
Our take
Whilst tech innovations have made applying for a loan far quicker and easier, the next step in the process - the management of the loan - is far more complex and still comparatively archaic in its organization. Originators and lenders use spreadsheets, emails and FTP folders to manage their lending relationships, rendering the process inefficient and prone to errors. Setpoint automates the debt facility management process for lenders.
Founded in 2021, the company claims 98% time saving for lenders, automating data ingestions, calculations and reporting workflows whilst its AI engine computes optimal asset allocation to max ROI. Financial liquidity is increased through access to automated access to third-party reviews and certifications, compliantly accelerating capital access. In short, Setpoint streamlines the second, more oblique stage of the lending relationship.
Focused on the property market, Setpoint’s tech could be expanded to other markets. Its focus on real estate, however, has helped it achieve several impressive funding rounds and a 6x year-over-year revenue growth.
Freddie
Company Specialist at Welcome to the Jungle
Company
Funding (last 2 of 3 rounds)
Aug 2024
$31m
SERIES B
Dec 2022
$43m
SERIES A
Total funding: $79.5m
Company HQ
Congress Avenue Historic District, Austin, TX
Leadership
Stuart Wall
(CEO)Previously Venture Partner at Bowery Capital, Founder & CEO at Signpost and was an Associate Consultant at Bain & Company.
Ben Rubenstein
(President)Previously CRO at realtor.com, Co-Founder and CEO at opcity and was a Co-Founder at Yodle.
Michael Lam
(Chief Investment Officer)Previously COO at realtor.com, was on the Policy Advisor Board at Joint Center for Housing Studies, CFO and Head of Analytics at Opcity, President and Co-Founder at Pendleton International Corp.
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