Israel’s Obligo nabs $35 mn from 83North, others; Agora nets seed money

 Israel’s Obligo nabs $35 mn from 83North, others; Agora nets seed money

Israeli fintech company Obligo has raised $35 million in a Series B funding round led by venture capital firm 83North.

HighSage Ventures, 10D, Entrée Capital, Alumni Ventures, MUFG Innovation Partners and La Maison Partners are the other investors who participated in the round.

The new round takes the total amount Obligo has raised to more than $50 million in the last 12 months, the company said. This includes $15.5 million in a Series A round late last year from 83North and others.

The startup was founded in 2018 by brothers Roey and Omri Dor. Obligo says its product suite uses Open Banking data and artificial intelligence to determine a renter’s eligibility to rent deposit-free. It lets renters to make their move-in payments online, including a security deposit if needed. At the time of moving out, Obligo handles any end-of-lease deductions, refunding of deposits and billing the renter for any open charges.

Obligo has partnered with over 100 US property owners and managers, who use its platform to simplify their move-in process, comply with regulations, and make their listings more appealing to renters.

The startup said it will use the fresh capital to expand its product suite, grow market share and bring rental solutions to millions of homes across the US.

“An Obligo-powered experience provides renters with flexibility, peace of mind and financial freedom,” said Roey Dor, CEO of Obligo. “Thanks to powerful software integrations and elimination of all paper processes, the operational and financial benefits to owners and operators are substantial.”

Agora

Israeli real estate fintech Agora has raised $9 million in a seed funding round led by Aleph and joined by River Park Ventures and Maccabee Ventures.

Some other investors, including a few from the US real estate market, pitched in as well, Agora said. It didn’t disclose their names.

Agora operates a platform that manages a database of real estate investments and assets. It was founded by three former Israeli intelligence officers—chief executive officer Bar Mor, chief product officer Lior Dolinski and chief technology officer Noam Kahan.

The company says that, over the last one year, it has grown its US business more than 12 times and now manages assets worth more than $25 billion with 6,000 investors using its platform.

“Today, real estate funds and developers work manually to enlist tens of deals and transfer billions in funds. With Agora, all that can be done with the press of one button,” said Mor.

“Many of our real estate investors started as customers and after using the platform decided to invest in Agora and back our mission: Accelerating growth and operational efficiency for real estate funds and developers,” he added.

Aman Malik

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