Rent Butter, a Chicago, IL-based provider of a tenant screening solution designed specifically for workforce and affordable housing, raised $3M in Seed funding.
The round was led by RET Ventures.
The company intends to use the funds to expand its product offering and customer base into conventional Class A and B multifamily and single-family rentals in 2023.
Founded by Chris Rankin and Tom Raleigh in 2021, Rent Butter was created to empower multifamily property owners to assess risk when screening potential tenants while helping renters build a financial resume. The digital application provides owners with banking and credit behavior reports, instantly validates important identification documents, integrates with existing CRMs, and helps reduce eviction and turnover at multifamily properties. The platform also validates important documents like applicant I.D.s, employment, and income in real-time to protect owners against fraud.
Rent Butter has seen significant traction since its founding, with properties comprising more than 100,000 residential units utilizing the solution.
FinSMEs
31/08/2023