Obligo has announced a Series A funding round with a target of $15.5 million. With this added capital, the fintech company will expand its deposit-free platform to more homes across the country.
This is the perfect time for tech like this, says Roey Dor, Obligo CEO, as Covid is keeping in-person interactions to a minimum and consumers are continuously looking for safer ways to continue their everyday needs.
“We can help families avoid the burden of paying a security deposit at move-in, or return their deposits in the middle of their lease. Landlords that utilize our technology enjoy reduced operational costs and are able to promote their properties as deposit-free communities, providing a powerful incentive that drives both move-ins and renewals."
Tenants can use Obligo to rent an apartment without a security deposit, an attractive option for many, including investors and partners.
Yahal Zilka, Co-Founder and Managing Partner of 10D, said:
"Within the deposit-free space, Obligo has a clear technology lead with powerful underwriting, collection and integration capabilities. We're thrilled to join Obligo's visionary team on this exciting journey."