Real Estate Fintech Startup Obligo Raises $5 Million

Fintech startup Obligo Inc. has announced the completion of a $5 million seed financing round, which was led by Israel-based venture capital firm 83 North and participated by Entrée Capital, HFZ Capital, and Viola Credit. Obligo offers an alternative to the security deposit—the sum of money required by most landlords when renting an apartment. Obligo’s solution has renters provide landlords with a limited billing authorization based on open banking technology and backed by credit. In the event of a claim at the end of a tenancy, Obligo pays landlords immediately, collecting the money from the tenants in installments.

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