Citi invests in business purpose lender Vontive

Vontive, which is a fintech specializing in business purpose mortgages, has received an investment from Citi, which also acted as lead bookrunner on its first-ever securitization.

The amount of the off-cycle investment was disclosed.

It is the first new capital in the company since its 2022 Series B fundraise, said Vontive CEO Charles McKinney. The company lends on one-to-four family properties to investors who do fix-and-flip or renovate for single family rentals.

“We got to know the Citi team through one of our venture investors, Zigg Capital, which led our Series B,” McKinney said. Vontive was looking at bank partners in order to grow the company. This relationship will be transformative for Vontive.

“Citi came to us and said, ‘Hey, we like technology. We like to make an equity…