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Obligo
Flexible security deposit alternative for renting
- 21-100 employees
- B2C
- B2B
- Artificial Intelligence
- Payments
- Renting
- Lending
- Midtown Manhattan, New York, NY
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Company mission
Obligo's mission is to build trust between property owners and renters through financial technology.
Our take
Moving into a property usually requires a security deposit, and whilst this will be returned upon move-out if a property has not been damaged, this money is soon spent once again on a new move-in deposit. This ultimately makes this chunk of money inaccessible to both the landlord and the renter, raising the question as to whether there is a better alternative to security deposits.
Obligo provides a flexible security deposit alternative for property renting, preventing renters from having to pay a security deposit up-front. Instead, the company provides a legal framework that only requires renters to pay when a damage charge has been submitted, with the company paying the landlord up-front whilst facilitating the renter to pay through interest-free instalments.
Landlords and renters already have choices for digital security deposit systems, but Obligo stands out by removing the necessity for up-front payments. By facilitating interest-free payments in the event that a damage charge is submitted, the company frees up security deposit cash for renters, without making renting relationships any less secure for the landlord.
Kirsty
Company Specialist at Welcome to the Jungle
Benefits
- Quarterly team kickoffs offsite, regular team dinners and outings
- Bonus scheme & company stock options
- Generous PTO, Summer Fridays and work from anywhere policy
- Comprehensive health insurance that begins on day one with significant company contributions
- 12 weeks of paid parental leave to take care of your new family
- Company laptop, remote office & cell phone bill reimbursement
- Commuter benefits
Company values
- Buy A Ticket - Commit irreversibly to action, even while some details are still unknown
- Under Promise & Over Deliver - Make realistic commitments and strive to surpass them
- Help Others Win - Assume good intentions and be the person you would want to work with
- Celebrate The Small Wins - Big wins are just a series of small ones
- Own It - Your accountability for success extends far beyond your designated role
- Share Mistakes Proudly - Growing, learning and being honest are things to take pride in
- Align Early, Act Boldly - Balance team alignment with fast, decisive execution
- Focus - Spend 95% of your time on your most promising 5% of ideas
- Plan Hard, Breathe Easy - Plan and prioritize effectively so you can truly enjoy your work, as well as your weekend
- Drive Action with Data - Measure your actions and their impact today to inspire the actions of tomorrow
Funding (last 2 of 4 rounds)
Nov 2024
$17.5m
SERIES C
Nov 2021
$35m
SERIES B
Total funding: $73m
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Sales & Account Management