$120-140k
Flexible security deposit alternative for renting
Open for applications
Flexible security deposit alternative for renting
21-100 employees
Open for applications
$120-140k
21-100 employees
Obligo's mission is to build trust between property owners and renters through financial technology.
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
Nov 2024
$17.5m
SERIES C
Nov 2021
$35m
SERIES B
Midtown Manhattan, New York, NY
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