Obligo, a New York-based fintech company that uses AI and machine learning to determine the level of risk of renters so that landlords feel safer about transactions, announced that it raised $35 million in Series B.
The round was led by investor 83North, with participation from Highsage Ventures, 10D, Entree Capital, Alumni Venture Group, and MUFG.
The company said its new funding will be used to expand its product suite, grow market share and bring industry-changing rental solutions to millions of homes across the U.S.
Company: Obligo, Inc.
Raised: $35.0M
Round: Series B
Funding Month: November 2021
Lead Investors: 83North
Additional Investors: Highsage Ventures, 10D, Entree Capital, Alumni Venture Group, and MUFG
Company Website: https://myobligo.com/
Software Category: Security deposits
About the Company: Obligo, a fintech company that uses AI and machine learning to determine the level of risk of renters so that landlords feel safer about transactions. Obligo rids both landlords and renters from the burden of security deposits and makes the move-in process as simple as checking in to a hotel. Owners and managers such as StuyTown, Stonehenge, and Common use Obligo to simplify their move-in process, comply with the changing regulatory landscape, and make their listings more appealing to renters. As the only non-insurance deposit alternative, Obligo’s credit-based model keeps landlords secure and renters accountable by combining Open Banking technology and AI-based underwriting.
Source: https://venturebeat.com/2021/11/04/using-ai-to-verify-renter-eligibility-and-risk/