M id A tlantic Real Estate Journal — Owners, Developers & Managers — Industry Experts — December 24, 2021 - January 20, 2022 — 5C Industry Experts
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The fintech company combines open banking technology with AI to make renting easy Obligo raises $35M in series B to power the home renting experience of the future
EW YORK — Ob- l igo , the f intech company that builds trust between renters and landlords, announced a Series B funding of $35 million led by investor 83North. Additional investors participating in the round include HighSage Ventures, 10D, Entrée Capital, Alumni Ventures, MUFG Innovation Part- ners, La Maison Partners and other strategic investors. Combined with its recent Series A round, Obligo has raised over $50 million in the last 12 months. The new fund- ing will be used to expand its product suite, grow market N INTECH names Moses president and Lutz CFO © INTECH Construction;shown from left: Phil Moses and Blaise Lutz. PHILADELPHIA, PA — General contracting and con- struction management firm INTECH Construction an- nounced a key ownership tran- sition today with the promo- tions of Phil Moses , Principal and vice president to president, and Blaise Lutz , principal and general counsel to chief finan - cial officer. Moses takes the INTECH helm from co-founder Craig “Sab” Sabatino , who will step into a chairman role. Sabatino co-founded INTECH in 1986 with Will Schwartz, who retired from the firm in 2017 but maintains a consulta- tive relationship. Today’s pro- motions represent a milestone in company management, as INTECH shifts to its second generation of ownership and remains Philadelphia’s largest locally owned construction firm. “The promotions of Phil and Blaise reinforce the success of our strategic planning and consistency to steward IN- TECH into the future,” said Sabatino. “I step back with full confidence that Phil and Blaise will carry forward IN- TECH’s values, its company culture, and its drive toward innovation in a seamless transition. MAREJ
share and bring industry- changing rental solutions to millions of homes across the United States. Obligo’s holistic product suite powers a trusted and streamlined rental experi- ence. Obligo's platform uses Open Banking data and AI to determine a renter's eli- gibility to rent deposit-free. Renters then proceed to make their move-in payments on- line, including a traditional security deposit if needed. At move-out, Obligo handles any end-of-lease deductions, refunding of deposits and
billing the renter for any open charges. “An Obligo-powered expe- rience provides renters with flexibility, peace of mind and financial freedom,” said Roey Dor, CEO of Obligo. “Thanks to powerful software integra- tions and elimination of all paper processes, the opera- tional and financial benefits to owners and operators are substantial." Obligo has partnered with over 100 tech-forward U.S. property owners and manag- ers including AIR, Beam Liv- ing (StuyTown) and Common.
Landlords and property man- agers use Obligo to simplify their move-in process, comply with the ever-changing regu- latory landscape, and make their listings more appealing to renters. "Obligo is a disruptive and innovative solution, both in its ability to make predic- tions about renter risk and in its effective debt recovery process,” said David But- tress , partner with 83North. “We believe the product suite is becoming an irreplaceable industry standard in the U.S. and beyond." MAREJ
Roey Dor, CEO and Omri Dor, co-founder and COO.
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