Jetty is a New York City–based financial services company that provides renter-focused products and services. Its core product suite includes Jetty Deposit (a security deposit alternative), Jetty Rent (a flexible rent payment program), and Jetty Protect (modern renters insurance). The company serves a network of property owners and operators that own and manage millions of rental units across the country. Jetty received an undisclosed investment from PayPal Ventures and Experian Ventures and will use the funding to accelerate growth and expand products. The firm plans to launch Jetty Credit, a credit-building service designed to report rent payments to credit bureaus to help renters boost their credit scores. Jetty says the new credit product will interact with its existing platform products to provide an all-in-one solution for renters and property managers; the company is led by co-founder and CEO Mike Rudoy. Jetty is a financial services platform led by CEO Mike Rudoy focused on reducing the financial burden of moving and adding flexibility for renters. Its integrated suite of products helps property managers increase lease conversions, improve resident retention, reduce bad debt, and boost net operating income. The company serves both property managers and renters with tools that change how and when rent can be paid. Jetty raised an equity investment (amount undisclosed) to support its growth. The company intends to use the funds to accelerate growth and expand its portfolio and investments. Jetty is based in New York. Jetty, founded in 2016, is a New York City-based fintech and insurtech offering renters insurance, a security-deposit alternative, and a rent-flexibility product called Jetty Rent. Jetty Rent pays landlords in full on the first of the month and gives renters until the 24th to repay, either in a lump sum or via installments, charging no interest or late fees but a monthly subscription fee of $15–$25 depending on risk profile. The product launched in beta through a partnership with Cortland and is now being rolled out to the public. Jetty provides the loans for the product through Cross River Bank and says it is evolving from an insurtech into also a lender. The company reports agreements with property owners and managers that operate more than 2.2 million rental units and 193% average year-over-year growth in contracted units since 2017. Jetty employs about 100 people and has raised $78 million to date. Jetty is an NYC-based fintech startup that provides renters with financial access to rental homes across the U.S. Founded by Mike Rudoy and Luke Cohler, the company offers three products that can be used alone or together: Deposit (a security deposit replacement), Renters Insurance, and Lease Guaranty (an institutional guarantor). Its property management partners include LivCor, Beam Living, Griffis, LeFrak, Lynd, and Rose Associates, among others, collectively spanning more than 500,000 rental units nationwide. Jetty raised $25M in a Series B round that brought total funding to more than $40M. The company said it will use the funds to continue investing in technology and personnel and to expand its real estate distribution presence. Jetty offers a suite of rental-focused finance and insurance products designed to solve problems for consumers and landlords during the home rental process. Its core offerings include Jetty Passport Deposit, Jetty Passport Lease, and Jetty Renters Insurance, which help consumers avoid expensive security deposits, obtain lease guarantors, and secure renters insurance. The company also sells coverage for personal items such as collections, accessories, and electronics, and for risks like bed bugs or theft during home-sharing. Jetty currently offers all three products in 131 states; its Passport products are available in 25 states and Renters Insurance and Passport Deposit are available in California. The company is working to make all three products available nationwide by the end of the year. Jetty is led by co-founders and executives Luke Cohler (President) and Mike Rudoy (CEO).

Total raised

$64M

Funding rounds

6

Latest round

Equity

Latest activity

Sep 2021