CoFi
CoFi is a Salt Lake City-based digital construction lending platform providing new construction, production, fix-and-flip, and manufactured home loans plus payment processing software to residential builders across California, Idaho, Oregon, and Utah.
- Company typePrivate
- Founded2018
- HeadquartersLindon, United States
- Headcount11–50
- GTM typeB2B
- OfferingServices
What CoFi does
CoFi (legal entity: Construction Finance Corporation) is a Salt Lake City-based digital construction lending platform founded in 2018 that provides residential construction financing and loan servicing software to builders across the western United States. Operating as a Delaware corporation, CoFi is licensed to originate loans in California, Idaho, Oregon, and Utah under NMLS ID #2450168. The company targets single-family home builders, production and tract developers, fix-and-flip investors, and manufactured housing projects through four core loan products (New Construction, Production & Tract, Fix & Flip, Manufactured Homes) supplemented by a Payment Software module that handles subcontractor disbursements.
The platform replaces paper-based construction lending workflows with automated digital draw processing, real-time loan monitoring, and a 24/7 self-serve borrower portal (app.cofisoftware.com). CoFi's technology is purpose-built for construction lending mechanics rather than adapted from generic consumer or SMB lending, and the company emphasizes a hybrid model blending digital automation with human expert support throughout origination and servicing.
CoFi generates revenue primarily through interest on construction loans originated in its licensed states and loan servicing fees from the Payment Software module. Go-to-market is sales-led, combining website contact forms, content marketing (blog, case studies), social media, and direct outreach to mid-market and independent builders. The company has raised a $7 million seed round (March 2022, led by Blackhorn Ventures, MetaProp, and Tenacity) plus undisclosed incremental capital in 2023, and processes what it describes as "billions of dollars" in active loan requests across its 11–50 employee base.
CoFi firmographics
Firmographics- Name
- CoFi
- Legal name
- Construction Finance Corporation
- Website
- https://cofisoftware.com
- Company type
- Private
- Founded year
- 2018
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Short description
- CoFi is a Salt Lake City-based digital construction lending platform providing new construction, production, fix-and-flip, and manufactured home loans plus payment processing software to residential builders across California, Idaho, Oregon, and Utah.
- Ownership category
- akta.pro rank
CoFi industry classification
Industry- Product category
- Construction Lending
- NAICS
- New Housing For-Sale Builders (236117)
- akta.pro primary industry
- New Construction-to-Perm (Single-Family Owner-Occupied) (FSALAHAA)
- akta.pro secondary industries
- Construction & Development (C&D) Lending — Commercial/Multifamily (FSALADAH), Construction & Renovation Loan Intermediation (FSAEAEAF)
Keywords
Where CoFi is headquartered
LocationHeadquarters
- HQ city
- Lindon
- HQ country
- United States
- HQ region
- North America
Offices1 record
Markets served
CoFi business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure
Revenue model
- Construction Loan Interest: CoFi provides construction loans for builders including new construction, production/tract lending, and fix & flip projects. Revenue is generated through interest on loans provided to builders for construction financing.
- Loan Servicing Fees: The company offers loan servicing software that enables builders to manage their loans, submit draws, and track budgets with competitive rates and full project support.
Go-to-market motion1 record
Distribution channels3 records
Marketing channels5 records
CoFi product offering
Product offeringCore offering
CoFi (Construction Finance Corporation) provides construction financing loans and a digital loan servicing platform for residential builders. It originates new construction loans, production/tract lending, fix & flip financing, and manufactured homes loans, while its CoFi Payment Software enables builders to submit draws, monitor loan status, and pay subcontractors 24/7.
Product overview
CoFi operates as a construction finance platform with a core lending platform complemented by specialized loan programs and payment processing software. The main CoFi Lending Platform serves as the primary product offering construction financing, while the CoFi Payment Software acts as an add-on module that enables builders to manage funding, pay contractors, and monitor loans. The platform's loan programs include New Construction Loans, Production & Tract Lending, Fix & Flip Financing, and Manufactured Homes Financing—all powered by digital draw processing and loan monitoring capabilities.
Differentiator
Problem solved
Functional benefit
Products and services
- CoFi Lending Platform
Quantifiable outcome
- Decreases average pay rate to subcontractors by almost 10 days
Companies that use CoFi
Customer profileNamed customers7 records
Segments4 records
Ideal customer profiles3 records
CoFi technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature4 records
CoFi partnerships and signals
Strategic signalScale indicators3 records
Recent moves6 records
Expansion highlights6 records
CoFi competitors and assessment
Company assessmentDirect peers
- Kiavi (formerly LendingHome): One of the largest residential construction-and-fix-and-flip lenders in the U.S., serving real estate investors and builders with a digital lending platform. Directly comparable to CoFi in product (construction/bridge loans), customer (small/mid builders and investors), and digital draw/portal experience.
- Groundfloor: Real estate lending platform originating short-term, asset-backed loans for residential fix-and-flip and new construction projects. Direct competitor to CoFi in the construction-lending vertical with a tech-forward origination and servicing model.
- Backflip: Digital construction and fix-and-flip lender focused on residential real estate investors and builders. Offers fast, asset-based financing with a streamlined digital application and draw process, paralleling CoFi's value proposition.
- Pillar: Private construction and bridge lender offering short-term financing to residential builders and investors. Operates a tech-enabled lending model and competes for the same SMB builder and fix-and-flip borrower as CoFi.
- Built Technologies: Construction finance management SaaS platform used by lenders and developers to manage construction loans, draws, and inspections. Direct competitor on the software side of CoFi's hybrid model, with strong positioning among institutional construction lenders.
- Rabbet: Construction finance platform that digitizes the draw, inspection, and documentation workflow between lenders, developers, and general contractors. Comparable to CoFi's draw-processing and loan-monitoring features, though Rabbet is software-only and serves larger commercial projects.
- RenoFi: Renovation-financing platform enabling homeowners and contractors to fund home improvements through home-equity-based loans. Adjacent to CoFi's fix-and-flip product line, serving renovation projects with a digital lending experience.
Emerging players
- Newfi: Non-QM and construction-to-permanent lender serving borrowers that fall outside agency guidelines, including real estate investors and self-employed builders. Competes for segments of CoFi's builder and investor customer base with a wholesale and direct lending model.
- Hometap: Home equity investment company providing homeowners with capital in exchange for a share of the home's future value. Adjacent to CoFi as a tech-enabled residential finance provider, though structured as an investment product rather than a loan.
Broad incumbents
- Sun West Mortgage Company: Large, diversified mortgage banker offering construction-to-permanent, renovation, and conventional home loans across most U.S. states. A broad incumbent with significantly more capital and geographic reach than CoFi, but with less specialized focus on the SMB builder segment.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks7 records
Key highlights7 records
Customer concentration
CoFi social profiles
Digital presenceCoFi compliance and trust
Trust signalCompliance5 records
CoFi financial estimates
Financial estimateRevenue estimate
Valuation estimate
CoFi leadership team
Management profileNumber of profiles
Profiles1 record
CoFi funding detail
Funding detailFunding overview
Funding rounds3 records
Investors7 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
CoFi M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about CoFi
What does CoFi do?
CoFi (Construction Finance Corporation) provides construction financing loans and a digital loan servicing platform for residential builders. It originates new construction loans, production/tract lending, fix & flip financing, and manufactured homes loans, while its CoFi Payment Software enables builders to submit draws, monitor loan status, and pay subcontractors 24/7.
Is CoFi a public or private company?
CoFi is a private company. It is classified as venture growth investor backed and is currently operating.
When was CoFi founded?
CoFi was founded in 2018. It employs 11 to 50 people.
Where is CoFi based?
CoFi is headquartered in Lindon, United States, in the North America region.
How does CoFi make money?
Two revenue lines are on record. Construction Loan Interest is the primary driver. The others are loan Servicing Fees.
Who are CoFi's main competitors?
Direct peers on record are Kiavi (formerly LendingHome), Groundfloor, Backflip, Pillar, Built Technologies, Rabbet and RenoFi. Emerging players are Newfi and Hometap. Sun West Mortgage Company is listed as a broad incumbent.
Does CoFi have an API?
No public API is recorded for CoFi.
What industry is CoFi in?
CoFi's product category is Construction Lending. Its primary akta.pro industry code is FSALAHAA, New Construction-to-Perm (Single-Family Owner-Occupied), with a secondary code of FSALADAH, Construction & Development (C&D) Lending — Commercial/Multifamily. Its NAICS code is 236117.