The Guarantors, a NYC-based insurtech startup focused on the real estate industry, raised €10.07M (approx. $11.7M) in Series A funding.
The round was led by White Star Capital and Alven Capital with participation from SilverTech Ventures, Global Founders Capital, Rocket Internet Capital Partners, Partech Ventures, and other investors.
The company will use the funds to continue to develop the product and launch beyond NY in 2018.
Led by founder and CEO Julien Bonneville, The Guarantors provides a technology rental lease guarantee platform that offers the same security as a lease prepayment for landlords at no additional cost.
The company’s Lease Guarantee Bond is backed by Hanover Insurance group, an A-rated insurance company with over $13b in total assets.
Today, it works in in New York City and New Jersey.