Obligo, a bold fintech startup, has just captured the market’s attention by raising $35 million in new funding. Anchored in innovation, this company offers an alternative to traditional security deposits for rental housing, positioning itself as a major change agent in the sector. By utilizing open banking and artificial intelligence, Obligo is reinventing the rental landscape by eliminating the need for security deposits, thereby promising to simplify transactions for tenants and landlords across the United States.
The startup fintech Obligo recently raised $35 million to transform security deposit solutions in the rental housing market. This funding round was co-led by True Global Ventures and 83North, with additional participation from investors such as 10D, Entrée Capital, and HighSage Ventures. Founded in 2018 by brothers Roey and Omri Dor, Obligo leverages Open Banking and artificial intelligence to provide an alternative to the traditional security deposit. Through partnerships with property management software giants like AppFolio, Buildium, and Yardi, Obligo has established itself as a preferred solution for tenants wanting to rent without a security deposit. Now with over $90 million in total funding, Obligo aims to become the go-to solution for millions of American households.
ambitious funding for Obligo
The fintech company Obligo has recently raised an impressive sum of $35 million during a new fundraising round led by True Global Ventures and 83North. This funding represents a significant milestone in the evolution of this innovative company, which strives to change the way security deposits are managed in the rental housing sector. The initiative includes participation from other investors such as 10D, Entrée Capital, HighSage Ventures, MUFG Innovation Partners, and Viola Credit. With these resources, Obligo can now aim to expand its solutions across the entire U.S. territory.
technology innovation at the heart of Obligo’s strategy
Obligo has been able to stand out with its platform leveraging Open Banking and AI to offer landlords and tenants an alternative to traditional security deposits. Founded by brothers Roey Dor and Omri Dor in 2018, the company relies on bank letters of credit backed by Wells Fargo to ensure transaction security. This revolutionary approach eliminates the need to lock significant funds, thereby lowering the entry barriers for tenants and increasing opportunities for owners. With this model, Obligo is redefining market expectations for rentals.
strategic partnerships and future growth
This new funding comes with strategic partnerships with real estate management software companies such as AppFolio, Buildium, and Yardi. These collaborations are a major asset for Obligo in its quest to become the leading security deposit solution in the United States. CEO Roey Dor expressed his conviction regarding the impact of these alliances, highlighting that according to a survey, 55% of tenants consider Obligo as a key factor in choosing their current housing. With the expansion of the American market, Obligo aims to transform the rental experience for millions of households while solidifying its position as a leader in the fintech landscape.
