Naborly, a San Francisco, CA-based credit bureau for the rental industry, closed its $7.5m seed funding round.
The round was led by First Round Capital’s Bill Trenchard (Uber, Looker, Flexport, LiveOps) and Susa Venture’s Chad Byers (Flexport, Robinhood, Newfront Insurance), with Joe Montana’s Liquid 2, Village Global VC, Assurant Insurance and Third Prime participating.
Founded in 2016 by Dylan Lenz, Naborly offers a free platform for landlords to know who they are renting to before they move in, and for tenants to build credit by paying their rent.
In addition to the funding, the company also announced the U.S. and Canada-wide launch of NaborlyShield, a digital service that guarantees rental income and lease terms for landlords and tenants. Landlords or tenants can purchase to have Naborly guarantee the terms of the lease agreement, pay the rent if the tenant does not, offer the tenant flexible and low-interest payment options to avoid eviction and handle the entire eviction process in the worst-case scenario of a full eviction.
The company today serves more than 850,000 rental units across the U.S. and Canada with offices in San Francisco and Toronto, Canada.
Last year, Naborly graduated the Y Combinator (YC) startup program.