Obligo provides a holistic product suite that powers a trusted and streamlined rental experience, including free certified electronic move-in payments, a flexible credit-backed deposit alternative, and automated electronic deposit refunds. Its platform uses Open Banking data and AI to assess renter eligibility for deposit-free moves, lets renters make move-in payments online (including traditional security deposits when needed), and manages end-of-lease deductions and billing. The company has partnered with over 100 tech-forward U.S. property owners and managers, including AIR, Beam Living (StuyTown) and Common. Obligo plans to use new funding to expand its product suite, grow market share, and bring rental solutions to millions of homes across the United States. Founded in 2018 by brothers Roey and Omri Dor and based in New York, Obligo emphasizes software integrations and paperless processes to deliver operational and financial benefits to owners and operators. Financially, Obligo announced a $35M Series B and says it has raised over $50M in the last 12 months after also completing a recent Series A. Obligo is a NYC-based fintech that enables tenants to rent apartments without a security deposit by using a payment-method pre-authorization model. Renters submit a payment method similar to a hotel check-in; if a landlord submits a charge at lease end, Obligo pays first while the renter can repay in full or via installments. Applicants connect their bank account using Open Banking and must pass a financial screening powered by an AI-based underwriting engine. The company has established partnerships with property managers including Beam Living (StuyTown), Aimco, Common Living, Olshan Properties, AJ Clarke, Time Equities, Hunter Lafayette, Landmark Communities and others. Obligo raised $15.5M in a Series A and intends to use the funds to roll out its deposit-free technology to millions of homes across the U.S. Obligo has developed a security-deposit alternative that lets tenants provide landlords a limited, credit-backed billing authorization instead of a cash deposit. The product relies on state-of-the-art Open Banking technology and a novel credit-based capital structure. In the event of a claim Obligo pays landlords immediately and enables tenants to repay claims in installments. The company offers a $2,500 billing authorization subscription starting at $9.90 per month. Obligo developed its solution in collaboration with Silicon Valley Bank’s New York City FinTech team. It has begun launching with two landlord partners in New York and plans to scale nationwide after its initial NYC rollout.

Total raised

$58M

Funding rounds

4

Latest round

Series B

Latest activity

Nov 2021