SAN FRANCISCO, June 18, 2025 – Silicon Valley Bank (SVB), a division of First Citizens Bank, along with lending partner Setpoint, today announced it has provided a warehouse facility to UpEquity, an Austin-based mortgage technology company that provides solutions for home buyers to help them purchase a new home before they sell their current home. The facility will provide up to $200 million in financing capacity and is expected to support $1 billion in originations over the next 2 years.
The new facility supports UpEquity’s continued high growth trajectory. The company’s revenue tripled annually since it began offering its innovative ‘buy before you sell’ solutions in October 2023. UpEquity expects to continue this growth rate by expanding strategic partnerships with mortgage lenders, real estate brokers, and home builders.
“We are thrilled to work with Silicon Valley Bank and expand our relationship with Setpoint,” said Timothy Herman, CEO of UpEquity. “The strong demand for our product reflects how well it meets our partners’ and customers’ needs. This new facility will allow us to help more customers with a smoother transition from their old home to the next.”
“With their innovative financing solutions and platform, UpEquity is helping real estate professionals close significantly more transactions by solving the challenge of buying and selling a home at the same time,” said Brian Foley, Market Manager for SVB’s Warehouse and Fintech group. “SVB is excited to work with UpEquity and provide them with the financial solutions they need to continue to scale and grow their business.”
“UpEquity gives homeowners a fast, streamlined path to their next home—unlocking equity and eliminating friction in the process,” said Kendall Ranjbaran, Managing Director of Investments at Setpoint Capital. “We’ve been proud to support UpEquity with tailored financing solutions since 2023 and are excited to deepen our partnership as they enter this next chapter of growth.”
A leader in serving the fintech industry, Silicon Valley Bank provides clients with specialized banking services, specialty financing and payment solutions including venture debt, warehouse lending, payment processing, and APIs.
About Silicon Valley Bank
Silicon Valley Bank (SVB), a division of First Citizens Bank, is the bank of some of the world’s most innovative companies and investors. SVB provides commercial banking to companies in the technology, life science and healthcare, private equity and venture capital industries. SVB operates in centers of innovation throughout the United States, serving the unique needs of its dynamic clients with deep sector expertise, insights and connections. SVB’s parent company, First Citizens BancShares, Inc. (NASDAQ: FCNCA ), is a top 20 U.S. financial institution with more than $200 billion in assets. First Citizens Bank, Member FDIC. Learn more at svb.com
About UpEquity
UpEquity gives homebuyers more negotiating leverage and certainty when they are buying and selling a home at the same time.Through the Trade Up Program homebuyers can make their bids more competitive with non-contingent offers. UpEquity’s Equity Advance program allows homebuyers to access the equity in their old home to use for a downpayment on the new home. The Company’s products are delivered through its AI-powered platform, which has allowed UpEquity to scale quickly, while achieving profitability, without adding significant headcount.
About Setpoint
Setpoint Capital is an investment manager focused on asset-backed private credit opportunities enabled through the Setpoint Technologies platform that provides unique value through technology, operations and insights. As an investment manager and direct lender (through its affiliates), Setpoint Capital integrates financial expertise with operational excellence to create capital solutions that enhance efficiency for its partners and investors.