Add-on Acquisition • Internet Software and Services

DeFi Development Acquires Groundbreaker

On November 20, 2023, DeFi Development acquired internet software and services company Groundbreaker

Acquisition Context

This is DeFi Development’s 1st transaction in the Internet Software and Services sector.
This is DeFi Development’s 1st transaction in the United States.
This is DeFi Development’s 1st transaction in Illinois.

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M&A Deal Summary
Date	November 20, 2023
Target	Groundbreaker
Sector	Internet Software and Services
Buyer(s)	DeFi Development
Deal Type	Add-on Acquisition

Target Company

Groundbreaker

Chicago, Illinois, United States

Groundbreaker is a specialized SaaS platform designed to simplify capital fundraising and investment administration in the commercial real estate industry. Groundbreaker was founded in 2014 and is based in Chicago, Illinois.

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Buyer Overview 1

Buyer

DeFi Development

Boca Raton, Florida, United States

Category	Company
Founded	2018
Sector	Software
Employees	14
Revenue	2M USD (2024)

DESCRIPTION

DeFi Development is an AI-enabled B2B fintech marketplace connecting commercial property borrowers and lenders with a human touch. DeFi Development was founded in 2018 and is based in Boca Raton, Florida.

Deal Context for Buyer	#
Overall	1 of 1
Sector: Internet Software and Services	1 of 1
Type: Add-on Acquisition	1 of 1
State: Illinois	1 of 1
Country: United States	1 of 1
Year: 2023	1 of 1

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