TheGuarantors, a NYC-based insurtech provider for the real estate rental industry, closed $15m in Series B funding.
The round was led by Global Founders Capital, with participation from White Star Capital, Alven Capital, Partech Ventures and Silvertech Ventures.
The company, which has raised $27M in total funding, will use the funds to expand its existing platform nationwide and to launch its new product for the commercial real estate market.
Led by founder and CEO Julien Bonneville provides a residential platform, which, launched in New York in 2016, offers:
– Lease Guarantee, which guarantees rent payments for tenants that don’t meet requirements.
– Renters Insurance, which makes it easier for renters to purchase insurance.
– Security Deposit Replacement, which allows owners to lower move in costs while enhancing coverage.
In addition, the company has just launched Securiti™, which acts as a financing tool for tenant companies to replace their standard security deposit for a small annual fee, while providing landlords with desired protection. It can be used on both new and existing leases, which allows all tenants to unfreeze capital and finance new projects.
TheGuarantors have partnered with Chubb, the world’s largest publicly traded property and casualty insurer, to back the policies.
The platform is now activated in nearly 300,000 units across 40 states, including California.