Obligo
“Can open banking and AI replace the cash security deposit as the standard trust mechanism in residential rentals?”
Founded2018
HQNew York, NY, USA
Total raised$50M+
Latest roundSeries B, November 2021
IndustryVertical SaaS / Real Estate
The story
Obligo was founded as a fintech company focused on building trust between renters and landlords by eliminating the traditional cash security deposit. The platform uses open banking data and AI to assess renter eligibility for deposit-free renting, replacing a centuries-old rental convention with a fintech-native authorization and liability model. By 2021, the company had raised over $50M to expand its suite of rental financial products and scale across the US.
Last 12 months
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Product timeline
2021
Raised $35M Series B led by 83North to expand product suite and grow market share in the US rental market.· banking
2021
Launched security deposit alternative products using open banking data and AI to determine renter eligibility to rent deposit-free.· pivot
The stack
1 layer disclosed in Obligo’s embedded-finance stack
Payments / PSP
StripeDwolla
Accounting gap: none