The funding, co-led by 83North and True Global Ventures, will accelerate the expansion of strategic partnerships and additional product launches.
NEW YORK , Oct. 21, 2024 /PRNewswire/ — Fintech company Obrigo, which builds trust between renters and landlords through a suite of flexible security deposit solutions, today announces it has secured $35 million in new funding. I did. The investment comes as Obligo is undergoing a period of rapid growth with recently announced partnerships with property management software companies AppFolio, Buildium, and Yardi.
This funding round, co-led by True Global Ventures and 83North, will fuel the company’s continued product innovation, IP development and strategic partnership expansion, moving it closer to achieving profitability. Additional equity and debt investors participating in this round include 10D, Entrée Capital, HighSage Ventures, MUFG Innovation Partners, and Viola Credit.
“This investment is a testament to the market’s confidence in our machine learning technology, API-first distribution strategy, and our vision for the future of rentals,” said Roey Dor, CEO and co-founder of Obligo. . “The value is clear: According to a recent survey, 55% of renters cited Obligo as an important factor in choosing their current home. With our partnership, we are uniquely positioned to become the top deposit solution for millions of U.S. households. ”
As part of this funding round, Obrigo is proud to welcome Lilia Shirman, Partner at True Global Ventures, to its Board of Directors. “Obligo is an innovative company leveraging machine learning and AI in the real estate space. Our growth and strategic channel partnerships are delivering tremendous value to renters and property managers alike. ”Sillman said. “We are excited to partner with Obligo to further their vision of creating unprecedented reliability and flexibility in the residential rental market.”
For more information, please visit myobligo.com.
About Obrigo
Obligo uses financial technology to build trust between renters and landlords, making the move-in and move-out process as easy as checking in and checking out at a hotel. As the first deposit alternative using a bank-issued letter of credit supported by Wells Fargo, Obrigo uses open banking and AI to determine tenant eligibility for renting without a deposit.
Founded in 2018 by brothers Roey Dor and Omri Dor, Obligo provides industry-changing rental solutions to millions of households across the United States.
About 83 North
83North is a global venture capital firm. We invest in great entrepreneurs every step of the way, focused on building global category-leading companies. For more information, visit www.83north.com and follow @83NorthVC on Twitter.
About True Global Ventures
True Global Ventures is a global venture capital firm with two active funds: the TGV 4 Plus Fund (early stage) and the TGV Opportunity Fund (late stage). The company focuses on partnering closely with fast-growing technology-driven companies driving transformation in business efficiency, financial services, sustainability, and other emerging sectors, and invests in enterprise AI and blockchain. has an excellent track record. For more information, please visit www.tgvplus.com.
media contact
Keegan St. Onge May
Obrigo
(email protected)
207-650-5071
Logo – https://mma.prnewswire.com/media/1337090/Obrigo_Logo.jpg
Want your company’s news featured on PRNEWSWIRE.COM?
Over 440,000
newsroom and
influencer
9k+
digital media
outlet
Over 270,000
journalist
opt-in
