Standby Deposits has developed a credit-based payment system that lets renters pay a minimal monthly fee instead of a large upfront security deposit. The solution is positioned as significantly less expensive than current market options and aims to foster financial inclusivity, affordability, and accessibility to rental housing. The product integrates into existing leasing processes with no additional staff training or procedure changes for property managers while offering the same protection as cash deposits. The company has a robust pipeline of property managers and is preparing for a Q2 launch targeting millions of renters across the United States. Standby Deposits plans to use its recent funding to scale operations, enhance its technology, and expand partnerships with property management companies and landlords. The team emphasizes user experience, scalability, and becoming a premier choice for rental deposit alternatives.

Total raised

$5M

Funding rounds

1

Latest round

Seed

Latest activity

Apr 2023