TheGuarantors has reportedly scored around €10m for its Series A round of funding.
This financing was led by White Star Capital and Alven Capital, according to an article by FinSMEs. Other backers to the round included SilverTech Ventures, Global Founders Capital, Rocket Internet Capital Partners and Partech Ventures, among others, the report states.
TheGuarantors helps renters to complete accommodation processes, by serving as their guarantee for rent. Through the application process a user completes a questionnaire, the company then performs a credit check and review, before receiving approval at a low rate.
For landlords the company serves as a rental lease guarantee, to ensure rent payment is made throughout the tenant’s stay.
Capital raised from the Series A will be used to continue the development of the product and support its launch outside of New York planned for next year, it said.
Earlier this month Alven Capital led the $2.2m funding round into subscription analytics solution ChartMogul. The capital will support product development and the international office.
Global InsurTech funding in 2017 has declined from the same period last year. The first three quarters of this year $1bn has been deployed, compared to the same period last year where $1.284bn was invested.
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