US-based rental guarantee platform operator TheGuarantors completed a $15m series B round yesterday that included Silvertech Ventures, the corporate venturing unit of property developer Silverstein Properties.
Venture capital firm Global Founders Capital led the round that also featured White Star Capital, Alven Capital and Partech Ventures, as well as several unnamed companies from the insurance and retail estate industries.
Launched in 2016, TheGuarantors’ software platform acts as a guarantor for and tenants who do not qualify for a lease on their own such as those without a credit history in the US or those who do not earn 40-times the cost of monthly rent.
In addition to expanding in its current platform nationwide, the cash will also be used to launch a financing tool called Securiti, which enables tenant companies to replace traditional office security deposits with a bond backed by insurance firm Chubb.
The company has now collected $27m in total funding, having previously raised $11.7m in a series A round co-led by White Star and Alven in November 2017.
Silvertech Ventures and Rocket Internet Capital Partners, the investment vehicle of e-commerce group Rocket Internet, also took part in the series A round, as did Global Founders Capital, Partech Ventures and unnamed additional investors.
TheGuarantors has not disclosed any previous funding rounds but lists Partech, Residence Ventures and White Star Capital as seed investors.