Obligo secures USD 35 million

Obligo raises $35 million in funding to expand its innovative security deposit solutions nationwide in the U.S. and provide landlords and tenants with greater flexibility and confidence.

New York, October 22, 2024 - Obligo, a fintech company that provides flexible security deposit solutions for the rental market, has raised $35 million in a new round of funding. The round was co-led by investors 83North and True Global Ventures and will enable Obligo to expand strategic partnerships and further develop its product range. The goal is to become the leading rental deposit solution for millions of households in the US.

Focus on growth

Obligo is in a period of rapid growth supported by recently announced partnerships with property management software providers such as AppFolio, Buildium and Yardi. The funding will be used to drive product innovation, expand the company's intellectual property and further develop its strategic partnerships.

In addition to 83North and True Global Ventures, 10D, Entrée Capital, HighSage Ventures, MUFG Innovation Partners and Viola Credit also participated in the round. Obligo has thus taken another important step on its path to profitability.

Trust through technology: Obligo's recipe for success

Obligo uses machine learning, open banking and AI to determine tenants' eligibility for deposit-free rentals. This technology builds trust between tenants and landlords by making the rental process more efficient and flexible. According to CEO and co-founder Roey Dor, 55% of tenants say that commitment was the main reason they chose their current home.

This investment shows the market's confidence in our technology and our vision for the future of renting

Roey Dor, CEO and Co-Founder Obligo

With the additional funding and recent partnerships, Obligo is ideally positioned to significantly expand its reach and reach millions of households across the US.

New additions to Obligo's board of directors

As part of the funding round, Lilia Shirman, Partner at True Global Ventures, joins Obligo's Board of Directors. She emphasizes the importance of Obligo's use of machine learning and AI in the real estate industry.

Obligo's growth demonstrates the added value for tenants and property managers. We are excited to accompany the company on its journey to create even more trust and flexibility in the rental market.

Lilia Shirman, Partner at True Global Ventures

Since its founding in 2018 by brothers Roey and Omri Dor, Obligo has established itself as a pioneer in innovative rental deposit solutions in the US. Obligo utilizes Wells Fargo bank-issued letters of credit to eliminate the need for security deposits and simplify the rental process for both parties.