What is Obligo?
Founded in 2017, Obligo offers a unique solution that eliminates the need for traditional security deposits through its Obligo Billing Authorization service. This secure, bank-account-linked system empowers property owners and managers to charge residents up to the deposit amount, thereby streamlining the rental process and reducing financial burdens for all parties involved. Obligo operates within the burgeoning fintech sector, specifically targeting the property technology (PropTech) market with its innovative financial instruments.
How much funding has Obligo raised?
Obligo has raised a total of $92.5M across 4 funding rounds:
Angel/Seed
$7M
Series A
$15.5M
Series B
$35M
Other Financing Round
$35M
Angel/Seed (2018): $7M with participation from Viola Credit, Entree Capital, 83North, and HFZ Capital Group
Series A (2020): $15.5M led by Entrée Capital, Viola Credit, 83North, and 10D
Series B (2021): $35M supported by MUFG, La Maison Partners, Alumni Ventures, Entree Capital, 83North, Highsage Ventures, and 10D
Other Financing Round (2024): $35M featuring True Global Ventures and 83North
Key Investors in Obligo
Viola Credit
Viola Credit is a global alternative credit asset manager specializing in providing flexible and tailored credit solutions to tech-driven companies. They offer Growth Lending and Asset-Backed Lending to support operational growth and funding origination activities.
MUFG
MUFG is a Japanese bank holding and financial services company offering a wide range of services including commercial banking, trust banking, securities, and asset management.
True Global Ventures
True Global Ventures is an international, early-stage investment firm formed by leading technology entrepreneurs, investing in internet, mobile, and software sectors.
What's next for Obligo?
With its recent strategic investment and substantial overall funding, Obligo is poised for accelerated growth and market expansion. The company's focus on simplifying rental financial obligations positions it to capture a larger share of the property management technology market. Future developments are likely to include enhancements to its billing authorization platform, further integration with property management software, and potential expansion into related financial services for the rental ecosystem. This sustained capital backing suggests a strategic push towards scaling operations and solidifying its competitive advantage.
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