AAA Corporates sign up to TheGuarantors’ series A

Corporates sign up to TheGuarantors’ series A

US-based rental guarantee provider TheGuarantors has received $11.7m in a series A round featuring investment vehicles for property developer Silverstein Properties and e-commerce group Rocket Internet, AlleyWatch has reported.

Silverstein and Rocket Internet, which participated through their SilverTech Ventures and Rocket Internet Capital Partners units, were joined by White Star Capital and Alven Capital, which co-led the round, Global Founders Capital, Partech Ventures and unnamed additional investors.

TheGuarantors has created an online platform through which it acts as a co-signatory for rental lease agreements, working with users who would not otherwise be able to qualify for a lease on their own.  

Tenants pay between 5% and 10% of their rent to the company over the course of their lease in return for a guarantee provided by Hanover Insurance Group. It operates in the city of New York and state of New Jersey, and intends to move into 10 markets in the coming year.

TheGuarantors has not revealed how much it raised in its seed round but founder and CEO Julien Bonneville told AlleyWatch “the vast majority” of its seed investors, which included Partech Ventures, Residence Ventures and White Star Capital, returned for the series A round.

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