Obligo Secures $35M to Scale Security Deposit Solutions Across US Market

Obligo, a fintech startup transforming rental relationships with flexible security deposit alternatives, raised $35 million in Series C funding to accelerate its market expansion. The round was co-led by 83North and True Global Ventures, with additional backing from 10D, Entrée Capital, HighSage Ventures, MUFG Innovation Partners, and Viola Credit.

The new capital will drive the startup's strategic partnerships, enhance product offerings, and propel the company toward profitability. Key partnerships with property management platforms, including AppFolio, Buildium, and Yardi, have contributed to Obligo's recent growth, positioning the company to scale across millions of US homes.

Obligo’s API-first approach and machine learning powered solutions have quickly gained market traction, with 55% of surveyed renters indicating that the availability of deposit-free offering was a deciding factor in their housing choice.

As part of the investment, Lilia Shirman, Partner at True Global Ventures, will join their Board of Directors.