Rent is increasingly comprising a larger portion of the average person’s income. In major metropolis’ like New York, it’s not uncommon for the rent-to-income ratio exceeds 40%. Despite representing such a large expense, rent rarely yields any sort of rewards or benefits. Stake is a cash back platform and banking infrastructure that allows incentivizes rent payments with an average of 4% cash back. The company also provides no-fee banking services and a debit card that’s available to spend the accrued earnings anywhere Visa is accepted. Stake partners with property operators to offer the benefit to tenants and potential tenants. Operators are able to design incentive cash back structures using machine learning to analyze rental data in real-time to effect desired tenant behavior like signing/renewing leases, paying on time, bringing accounts current, and referrals. The platform is said to return 130% on every dollar spent by landlords. AlleyWatch caught up with Stake Cofounder and CEO Rowland Hobbs to learn more about the business, the company’s strategic plans, latest round of funding, which brings the total funding raised to $16.9M, and much, much more…
12 new deals and $304M+ invested into NYC startups for the week. NYC Tech News for the week ending 7/2 featuring news for Hank, Gloat, Tenet, and much, much more.
The latest venture capital, seed, pre-seed, and angel deals for NYC startups for 6/30/2022 featuring funding details for April, Stake, and much more.
20 new startup deals totaling $660M+ in new funding for NYC startups last week. NYC Tech News for the week ending 9/25 featuring news for Broker Genius, Chapter, Dash, and much, much more.
The latest venture capital, seed, pre-seed, and angel deals for NYC startups for 9/20/2021 featuring funding details for Altana AI, Blueground, two rounds you will not read about anywhere else, and much more.
The latest venture capital, seed, and angel deals for NYC startups for 1/14/19 featuring funding details for Stake and Wana