Obligo raises $35 million Series B to streamline rental experience
The Israeli startup aims to build trust between renters and landlords and includes free certified electronic move-in payments, a flexible credit-backed deposit alternative, and automated electronic deposit refunds
CTech | 16:05 04.11.2021
Fintech startup Obligo announced on Thursday a Series B funding round of $35 million led by investor 83North. Additional investors participating in the round include HighSage Ventures, 10D, Entrée Capital, Alumni Ventures, MUFG Innovation Partners, La Maison Partners and other strategic investors. Obligo has developed a platform that aims to streamline the rental experience. Its product uses Open Banking data and AI to determine a renter's eligibility to rent deposit-free. Renters then proceed to make their move-in payments online, including a traditional security deposit if needed. At move-out, Obligo handles any end-of-lease deductions, refunding of deposits and billing the renter for any open charges.