With a statement from CEO and co-founder Geoff Arnold, and the addition of a new tagline—“Powered by Built”—beneath its logo, Iowa-based Lienwavers.io, a solution platform that manages lien waivers and payments for commercial and residential construction, confirmed its acquisition by Nashville-based Built Technologies.
Built Technologies, a financial technology software provider, will integrate Lienwavers into its offerings under a new division called Built For Contractors. The move, according to a statement, will allow Built to “provide solutions for all key stakeholders involved in the construction finance process,” making it the first full-stack construction finance platform to do so.
“Since we launched lienwaivers.io in 2015,” Arnold said, “we’ve been laser focused on increasing efficiencies and trust in the construction payment process. Joining Built will allow us to link two areas of the construction finance process that have never been linked before and accelerate innovation and growth. I couldn’t be more excited for what lies ahead.”
Built, which was founded in 2014, built its reputation on helping contractors and borrowers manage disbursements of loans and get access to cash. With Built for Contractors, the combined company will now be able to assist those in the construction industry with payment process management, from lenders to homebuilders, commercial real estate owners and title companies.
Lienwaver’s capabilities include the ability to automate disbursement processes for a cost that is close to the price of printing physical checks. It also features plug-in integration with customers’ existing accounting software (QuickBooks, Sage and Procore Construction Financials) for management of lien waivers and payments.
The company also has a customizable API that allows users to create their own branded Automated Clearing House (ACH) payment experiences, and automates requests, collection, and tracking of lien waivers and payments for multiple phases of construction projects.
“Lienwaivers.io is the perfect partner as we advance our mission,” Built Technologies CEO and co-founder Chase Gilbert said in a statement. While nodding to Built’s success, saying the company has helped more than 100 leading construction lenders in the U.S. manage more than $34 billion in construction loans, he added that he knew the company would need to expand at some point in order to be an industry problem-solver.