Obligo – L-R CEO Roey Dor and Omri Dor
Obligo is an Israeli fintech startup that “builds trust” between renters and landlords through its suite of flexible security deposit solutions. In this way, both sides get a measure of security when it comes to paying and collecting rents and security deposits. The firm raised $35 million in a Series C funding round co-led by True Global Ventures and 83North.
Founded in 2018 by brothers Roey Dor and Omri Dor f, Obligo powers the rental experience of the future and builds trust between renters and landlords through financial technology, making the rental process as simple as checking in and out of a hotel. Obligo streamlines rental operations, boost bottom lines, power a superior resident experience and comply with ever-changing regulations.
Obligo boasts that its holistic solution suite includes a flexible credit-backed deposit alternative, and automated electronic deposit refunds, complemented by powerful integrations with industry leading software. As the only credit-backed deposit alternative, Obligo’s mission is to build trust between property owners and renters through financial technology.
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It is also the first security deposit alternative utilizing bank-issued Letters of Credit supported by Wells Fargo, Obligo uses Open Banking and AI to determine renters’ eligibility to rent deposit-free.
“This investment is a testament to the market’s confidence in our machine learning technology, API-first distribution strategy and our vision for the future of renting,” said Roey Dor, CEO and Co-Founder of Obligo. “The value is clear: a recent survey showed that 55% of renters cited Obligo as a key factor in selecting their current home. With these additional resources and our recently announced property management software partnerships, we are uniquely positioned to become the top deposit solution for millions of U.S. homes.”
As part of this funding round, Obligo welcomed Lilia Shirman, Partner at True Global Ventures, to its Board of Directors. “Obligo is a game-changer for leveraging machine learning and AI in real estate. The company’s growth and strategic channel partnerships are evidence of the tremendous value they deliver to renters and property managers alike,” said Shirman. “We are excited to partner with Obligo to catalyze its vision for creating unprecedented trust and flexibility in the residential rental market.”
