Flip operates an online marketplace that helps renters sublet or exit leases by matching leaseholders with long-term replacement tenants and handling credit checks to verify affordability. Average Flip leases run about six months, with terms ranging from three months to a year, and roughly 15% of listings come directly from landlords. The service focuses on legally compliant, long-term sublets rather than short-term stays, positioning itself between Airbnb-style rentals and long-term rental marketplaces. Flip is New York–based and is a graduate of the Techstars NYC accelerator. The company is developing in-app payments, rent guarantees and standardized legal documents to streamline the subletting process. Flip plans to expand beyond its current markets in San Francisco, Los Angeles and New York. Flip operates a marketplace where lease holders can post apartments they need to rent out and pre-screened applicants can find housing before it hits the broader rental market. Current residents can either charge a fee or offer a reward to whoever moves in, depending on urgency. Flip has flipped more than 350 leases and is adding about 20 new leases per day. After launching in New York City, it is beta testing in San Francisco, Boston and Los Angeles. The company has introduced a human-assisted AI chatbot to assist with finding apartments, notifying landlords and filling out forms; the bot is already part of the service and is being refined. The startup announced $1.2M in seed funding to support its growth. Flip operates a lease marketplace where current tenants post their leases and list a price or offer a reward for someone to take over the contract. Pre-screened applicants can browse listings, contact sellers, and schedule visits. The company also partners with property managers who can offer Flip as an amenity. Since its December launch, Flip has had 1,500 leases listed and more than 300 of them have been "Flipped." The team says reward-based transfers — where leaseholders pay a reward instead of charging a price — now represent 20–30% of listings. The service is currently available only in New York City, though the founders see opportunity for geographic expansion because the core model is legal across the U.S.

Total raised

$4M

Funding rounds

3

Latest round

Equity

Latest activity

Jun 2017