Obligo Raises Funding to Expand its Deposit-Free Renting Platform

November 23, 2020
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Covid continues to push companies to turn towards tech to offer safer options for consumers

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.

Dor said:

“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."

November 23, 2020
Victoria has been writing about property portals and marketplace sites for Online Marketplaces for over 3 years. She is also our resident artist and is responsible for all of the infographic content on the site.

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