Obligo Named the Most Promising Israeli-Founded Fintech Startup in Lending and Financing for 2021

Recognized for its Open Banking and AI-based underwriting and collection capabilities, Obligo rids landlords and renters of the burden of security deposits.

News provided by

Obligo

Mar 23, 2021, 09:00 ET

NEW YORK, March 23, 2021 /PRNewswire/ -- Obligo, a leading security deposit alternative that builds trust between landlords and renters through financial technology, has been recognized as the Most Promising Israeli-Founded Fintech Startup in Lending and Financing for 2021, in an event hosted by Citi, Visa and Israel Discount Bank. The awards were selected by 30 financial entities and venture capital funds operating in Israel.

The award recognized fintech companies expected to have the largest impact in their respective sectors in 2021. Seven winners were selected from a field of over 750 startups operating in the global fintech industry.

Similar to a hotel check-in process, renters who use Obligo don't need to pay a security deposit. Instead, they pre-authorize their landlord to charge their bank account, up to the security deposit amount. If the renter owes a balance at move out, they have the flexibility to repay in installments. Before a renter is approved to rent deposit-free, Obligo performs a split-second qualification process which leverages Open Banking data and AI. Landlords and property managers enjoy increased demand and streamlined operations, without dependency on third-party insurance.

"With the COVID-19 crisis continuing to cause financial hardship for millions of Americans, security deposits are a massive source of capital that can provide immediate liquidity to families in need." said Roey Dor co-founder and CEO. "By combining Open-Banking technology and machine learning we are able to dramatically reduce a landlord's 'bad debt' figure, without requiring renters to place thousands of dollars in escrow."

Request a demo of Obligo at myobligo.com.

About Obligo

Obligo rids both landlords and renters of the burden of security deposits, lowering costs, increasing cash flow and simplifying the move-in process. Owners and managers use Obligo to streamline their operations, comply with changing regulations, make their listings more appealing to renters, and incentivize renewals.

As the only non-insurance deposit alternative, Obligo's credit-based solution keeps landlords secure and renters accountable by combining Open Banking technology with AI-based underwriting and collection capabilities. Since launching its fintech solution in 2018, Obligo has established partnerships with leading US property managers in the multifamily, single family, student housing, and workforce rental housing markets.

For more information, visit myobligo.com.

Contact:
Keegan St. Onge-May
[email protected]

SOURCE Obligo