Naborly, a Toronto-based proptech startup with a platform for residential tenant screening and credit building, has raised $9.9 million in a seed funding round.
The new funding will be put toward product development, specifically its product NaborlyShield, a digital service created to guarantee rental income and lease terms for landlords and tenants, which is also now launching across the US and Canada. The round was led by First Round Capital‘s Bill Trenchard and Susa Ventures‘ Chad Byers, with participation from Joe Montana’s Liquid 2, Village Global VC, Assurant Insurance, and Third Prime.
“Naborly is reimagining the relationship between landlords and tenants by leveraging the power of technology and data. We see a world where Naborly is the glue for the rental industry, improving the lives of tenants while providing landlords better data and financial security,” said Chad Byers, general partner at Susa Ventures. “We are thrilled to be working with Dylan [Lenz] and his team at Naborly to build a next-generation financial services firm focused on the rental industry.”
Naborly was founded in 2016 by Dylan Lenz and now serves more than 850,000 rental units across the US and Canada. The company has previously raised $1.25 million in seed funding, led by ScaleUP Ventures. It has previously partnered with Equifax Canada and RentMoola, and in 2016 acquired LRANK.com, a real estate location intelligence search engine.
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