Obligo and Yardi Announce Partnership to Launch Embedded Security Deposit Alternative

The partnership eliminates deposit management for property managers, while residents benefit from increased financial flexibility

NEW YORK, June 18, 2024 /PRNewswire/ -- Obligo, the fintech company that powers the rental experience of the future and builds trust between renters and landlords through financial technology, has partnered with Yardi® to provide a fully embedded security deposit alternative within Yardi's residential property management software.

Obligo's holistic suite of deposit solutions powers a trusted and streamlined rental experience for both properties and renters. The solution provides properties with the ability to maintain full protection, reduce bad debt, and offer an appealing amenity to prospective renters – who can choose to keep their security deposit, and instead use it to save, invest, or spend.

"By focusing on an API-first approach, Obligo is empowering our software partners to build a seamlessly integrated deposit alternative, as well as provide flexible payment and refund options for traditional deposits," said Roey Dor, CEO and Co-founder of Obligo. "We are thrilled to join forces with the Yardi team and help rid property managers and renters nationwide from the burden of security deposits."

"We are excited to partner with Obligo to make deposit collection easier for our clients and to streamline the renting journey for residents," said Akshai Rao, president of residential at Yardi. "One of our main commitments at Yardi is customer experience. This new offering will not only help our clients grow their businesses, but make the move-in process easier for many residents."

As the industry's API partner of choice, Obligo can be easily embedded in property management and financial services software, offering scalable architectures, top-tier customer service, and the highest standards of security.

For more information, visit myobligo.com.

About Obligo
Obligo harnesses financial technology to build trust between renters and landlords, making the move-in and move-out process as simple as checking in and out of a hotel. As the first security deposit alternative utilizing bank-issued Letters of Credit supported by Wells Fargo, Obligo uses Open Banking and AI to determine renters' eligibility to rent deposit-free.

Founded in 2018 by brothers Roey Dor and Omri Dor, Obligo has raised more than $50 million and is looking to bring its industry-changing rental solutions to millions of homes across the United States.

About Yardi
Celebrating its 40-year anniversary in 2024, Yardi® develops and supports industry-leading investment and property management software for all types and sizes of real estate companies. With over 9,000 employees, Yardi is working with clients globally to drive innovation in the real estate industry. For more information on how Yardi is Energized for Tomorrow, visit yardi.com.

Media Contact:
Keegan St. Onge-May
Obligo
[email protected]
207-650-5071

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SOURCE Obligo