Snappt, an applicant trust platform for multifamily housing, has acquired Trigo, a company specializing in verifying rental payment history. The acquisition is supported by a $50 million growth financing facility from Hercules Capital.
The deal enables Snappt to expand its platform, which helps property managers identify fraudulent documents, such as fake pay stubs and altered bank statements. By integrating Trigo’s technology, Snappt can now provide verified rental payment history natively, a key data point for making faster and more confident leasing decisions.
Since its founding in 2019, Snappt has analyzed over 14 million documents, preventing more than $1.9 billion in potential bad debt. The company’s solutions are used to protect over 2.2 million rental units and are trusted by many of the nation’s top property management firms.
Support: For the deals, Hercules Capital was represented by Will Gerber from Morrison & Foerster. Michael Fesher of Quarles & Brady represented Trigo. And Snappt was represented by Stephen Fisher, Will Black, Liz Malmen, and Steve Krafcik of Fenwick & West.
KEY QUOTES:
“This moment marks a major leap forward for Snappt. With the backing of Hercules Capital and the strategic acquisition of Trigo, we’re not just expanding our platform, we’re accelerating our vision for a fully integrated trust infrastructure that meets the evolving needs of property managers. These combined milestones enable us to deliver faster, more secure leasing decisions while setting a new standard for accuracy and transparency across the rental journey.”
James Hyde, CEO of Snappt
“Snappt has consistently demonstrated category leadership through product innovation and customer obsession. Their evolution from point solution to platform—and now, with the acquisition of Trigo, a fully integrated trust infrastructure—reinforces why we continue to back their vision. Snappt is solving one of the most urgent and complex challenges in multifamily housing: establishing trust at scale.”
Thomas Krane, Managing Director at Insight Partners
“Trigo was founded on the idea that the best predictor of someone’s ability to pay rent is if they paid rent in the past. We’re excited to join forces with Snappt to scale our impact and bring verification innovation to more leasing teams across the country.”
Sam Stein, CEO and Co-Founder of Trigo
“Hercules Capital is excited to partner with Snappt as they continue to provide an industry-leading platform for applicant trust. Snappt’s vision for an end-to-end trust infrastructure resonated deeply with us. Their proven AI-powered technology, rapid growth, and commitment to product innovation make them a compelling partner as they continue to scale.”
Ruslan Sergeyev, Managing Director at Hercules Capital
