Obligo, a fintech company that builds trust between renters and landlords through its suite of flexible security deposit solutions, announced that it has raised $35 million in new funding. Ths funding comes as Obligo experiences rapid growth, driven by 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 expansion of strategic partnerships as it moves closer to profitability. Additional equity and debt investors participating in the round include 10D, Entrée Capital, HighSage Ventures, MUFG Innovation Partners, and Viola Credit.
Obligo welcomed Lilia Shirman (Partner at True Global Ventures) to its Board of Directors in connection with the funding round.
KEY QUOTES:
“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 renting. The value is clear: a recent survey showed that 55% of renters cited Obligo as a key factor in selecting their current home. With these additional resources and our recently announced property management software partnerships, we are uniquely positioned to become the top deposit solution for millions of U.S. homes.”
-Roey Dor, CEO and Co-Founder of Obligo
“Obligo is a game-changer for leveraging machine learning and AI in real estate. The company’s growth and strategic channel partnerships are evidence of the tremendous value they deliver to renters and property managers alike. We are excited to partner with Obligo to catalyze its vision for creating unprecedented trust and flexibility in the residential rental market.”
-Lilia Shirman
