12 new deals and $231M+ invested into NYC startups for the week. NYC Tech News for the week ending 4/30 featuring news for Vaunt, Sealed, Cogni, and much, much more.
The latest venture capital, seed, pre-seed, and angel deals for NYC startups for 4/25/2022 featuring funding details for TheGuarantors, Vaunt, and much more.
The median monthly rent for an apartment in Manhattan has jumped to $3700; most property managers and owners have a 40x annual income requirement, meaning that prospective tenants would need to be earning at least $148K a year with a significant credit history. This makes securing an apartment unattainable for many even though they are otherwise qualified, especially for ex-pats, students, recent grads, and entrepreneurs. TheGuarantors is an insurtech solution where the company serves as a co-signer, guaranteeing payment to landlords for a nominal fee. The company also offers a security deposit product where renters do not have to keep thousands locked away in an escrow account. In an extremely tight housing market, TheGuarantors serves the needs of both renters by giving them more options that they qualify for and property managers by reducing risk through guaranteed payments. The company has provided over $1.5B in total coverage since inception, streamlining the lease process by 22 days for a property, and coverage is available in 49 states, available for properties from property managers and developers like Brookfield, Equity Residential, Tishman Speyer, Rockrose, and Silverstein Properties. Despite turbulence in the market from COVID, TheGuarantors was able to triple revenue in 2021.AlleyWatch caught up with TheGuarantors CEO and Cofounder Julien Bonneville to learn more about the business, the company’s strategic plans, latest round of funding, which brings the total funding raised to $76.7M, and much, much more…
Need to rent an apartment in NYC? It’s not an easy task with stringent rental qualification requirements. Those that are deemed unqualified renters are normally composed of recent grads, students, expats, and entrepreneurs who are trying to find an apartment but face barriers like high upfront cost and strict credit requirements. TheGuarantors is the NYC […]
The latest venture capital, seed, and angel deals for NYC startups for 2/25/19 featuring funding details for TheGuarantors.