What PadSplit does

PadSplit is an Atlanta-based public benefit corporation founded in 2017 by Atticus LeBlanc that operates the largest coliving marketplace in the United States specifically oriented toward the low- and moderate-income workforce (below 80% AMI). The platform connects individual property owners (hosts) with renters seeking private, furnished bedrooms in shared single-family and multi-family homes, eliminating traditional barriers such as minimum credit scores, security deposits, and long-term leases. The core product is a self-serve web and mobile marketplace where members apply, are screened via background/identity checks and Plaid-powered income verification, receive instant approval, and move in within 24-48 hours; resident bedroom doors are secured via RemoteLocks smart-lock technology, and rent is collected weekly through Stripe. As of early 2026, the platform lists 30,000+ rooms across 40 states, has housed more than 70,000 people without federal subsidies, and operates in 21+ named US metros.

PadSplit monetizes through three streams: (1) a marketplace commission/fee charged to hosts on completed bookings, (2) a non-refundable $19 membership application fee, and (3) one-time move-in fees averaging ~$100. The all-inclusive weekly rent (averaging $729/month per room versus a $1,880 Atlanta one-bedroom) bundles utilities, Wi-Fi, furniture, and Teladoc telemedicine. The go-to-market is primarily product-led and community-led — 95% of residents recommend the service, and the company runs structured referral programs ($250 per member, $1,000 per host) — supplemented by earned media coverage in NYT, Forbes, and WSJ and enterprise-style government partnerships (City of Portland Home Sharing Pilot). The company has raised approximately $35M across seed through Series B (Series B: $20.5M in November 2021 led by a syndicate including Cox Enterprises, Citi Impact Fund, Core Innovation Capital, Mark Cuban Companies, Alate Partners, and Impact Engine), employs 101-250 staff distributed across the US, and is led by founder/CEO Atticus LeBlanc with Frank Furman (COO), Jon O'Bryan (CTO/DPO), and Joel Glenny (Head of Sales).

Name

PadSplit

Legal name

PadSplit, Inc.

Website

https://padsplit.com

Company type

Private

Founded year

2017

Operating status

Operating

Headcount range

101–250 employees

Short description

PadSplit operates the largest US coliving marketplace for the low- and moderate-income workforce, connecting property owners with renters seeking private, furnished, all-inclusive weekly rooms without credit checks or long-term leases.

Ownership category

akta.pro rank

Headquarters

HQ city

Atlanta

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2C

Offering type

Digital Commerce or Content

Cost components

Operations, Technology or R&D, Marketing or Sales, Personnel, Infrastructure

Revenue model

1. Room Rental Transaction Fees: PadSplit charges hosts/property owners a platform fee for listing rooms and facilitating rentals. Renters pay weekly rent which includes utilities, furniture, and amenities. The company takes a commission or platform fee from hosts on completed bookings.
2. Membership Application Fees: $19 non-refundable application fee for membership approval (refundable if not approved, up to 2 attempts)
3. Move-in Fees: One-time move-in fees charged to members, averaging around $100, covering cleaning and room preparation

Pricing tiers

Go-to-market motion3 records

Distribution channels4 records

Marketing channels7 records

Core offering

PadSplit operates an online coliving marketplace that connects individual property owners (hosts) with workforce renters (members) seeking affordable, fully-furnished private rooms in shared homes. Members pay a single all-inclusive weekly fee covering rent, utilities, Wi-Fi, furniture, and Teladoc telemedicine, with no minimum credit score, no security deposit, and a 12-week minimum stay. The platform handles screening, payments, smart-lock access, and member transfers across its 30,000+ room network spanning 40 states.

Product overview

PadSplit operates as a single unified coliving marketplace platform rather than a modular platform-plus-products architecture. The core offering is the PadSplit Coliving Platform, an online marketplace that connects property owners with individuals seeking affordable private rooms in shared homes. The platform is complemented by supporting tools including a Member Savings Calculator for prospective residents to compare costs, and the company publishes an annual Social Impact Report to communicate its community impact metrics.

Differentiator

Problem solved

Functional benefit

Products and services

• PadSplit Coliving Marketplace Platform Online marketplace connecting property owners (hosts) with individual renters (members) seeking affordable, fully-furnished private rooms in shared homes, with all-inclusive weekly pricing covering rent, utilities, Wi-Fi, furniture, and Teladoc. No minimum credit score, no security deposit, and flexible week-to-week terms with a 12-week minimum stay. Includes identity and background screening, smart-lock access, and a free inter-city transfer network.
• PadSplit Host Property Owner Portal Self-serve portal for property owners and real estate investors to list rooms or entire homes on the PadSplit marketplace, manage properties, view earnings, access a vendor network, and calculate property ROI. Hosts receive managed tenant screening, rent collection (97.5% collection rate), and reporting 2x+ NOI improvements.

Quantifiable outcome

• Residents save average of $317/month vs previous housing
• +7 more outcomes

Named customers9 records

Segments4 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration4 records

Feature5 records

Partnerships

Three partnerships are on record, tiered core and minor.

• Furnished FindercoreTechnology or Integration · 3 June 2026Furnished Finder partnership making PadSplit the platform's first API integration partner with over 1,000 rooms listed. Utilizes Furnished Finder's new Supply APIs to serve traveling healthcare professionals, contract workers, and digital nomads seeking flexible monthly housing across 18 states. This is Furnished Finder's largest housing inventory integration to date.
• City of PortlandcoreStrategic or Co-development Partner · 1 March 2026PadSplit serves as Qualified Home Sharing Provider for City of Portland's 12-month Home Sharing Pilot Program - the first municipality to formally partner with PadSplit and attach direct financial incentives to participation. Eligible owner-occupant homeowners receive $1,000 for first bedroom rented and $500 for each additional room (weekly rents capped at $200). Program administered through United Way of the Columbia-Willamette.
• Ecumenical Ministries of OregonminorStrategic or Co-development Partner · 1 March 2026Partner in Portland Home Sharing Pilot Program alongside PadSplit and the Portland Housing Bureau to help implement the SRO pilot and assist low-income tenants.

Scale indicators14 records

Recent moves2 records

Direct peers

• Common: Common operates a coliving platform offering private bedrooms in shared, design-forward homes across multiple U.S. cities. Both Common and PadSplit run two-sided marketplaces matching members with shared homes on flexible terms; PadSplit targets the workforce/affordable segment while Common focuses on urban professionals, but the underlying operating model (screening, all-inclusive pricing, branded properties) is highly comparable.
• Bungalow: Bungalow is a coliving operator that rents private bedrooms in shared, fully-furnished homes on month-to-month leases without requiring security deposits. It is one of PadSplit's closest direct competitors in the shared-housing marketplace category, with comparable screening technology, all-inclusive pricing, and target customer overlap in the flexible-rental demographic.
• Ollie: Ollie operates fully furnished shared living communities with coliving units in major U.S. cities, including partnerships with multifamily developers. While Ollie skews toward premium urban markets, the core coliving product (private bedroom, shared common space, all-inclusive pricing, app-based management) directly overlaps with PadSplit's offering.
• Furnished Finder: Furnished Finder is a marketplace for monthly furnished housing specifically serving traveling healthcare professionals, contract workers, and other rotating-stay professionals. PadSplit is now Furnished Finder's largest housing inventory integration partner, and both companies serve overlapping customer segments in the traveling professional housing vertical.

Broad incumbents

• Sonder: Sonder operates a portfolio of furnished, tech-managed apartments and short-stay units in cities globally, marketed toward business travelers and extended-stay guests. It shares the flexible, all-inclusive pricing model and tech-enabled operations with PadSplit but operates at a much larger scale and targets a higher-end corporate and leisure segment rather than workforce housing.
• Blueground: Blueground leases and furnishes apartments on flexible 30+ day terms across global cities, targeting business travelers and relocating professionals. Its technology platform, monthly furnished rentals, and self-serve booking mirror PadSplit's core mechanics, though Blueground focuses on entire apartments rather than shared coliving rooms and serves a more affluent, mobile professional customer base.
• Airbnb: Airbnb is the dominant global short-term rental marketplace connecting hosts with travelers for nightly stays. While Airbnb's core use case (short-term travel) differs from PadSplit's weekly/monthly workforce housing model, both operate two-sided marketplaces with technology-enabled screening, payment processing, and host management tools, and increasingly overlap in the medium-stay segment.
• WeWork: WeWork is a global flexible workspace operator that has also piloted coliving through its WeLive brand. While WeWork's primary focus is shared office space, its broader platform of flexible shared environments and design-forward approach to shared living overlaps with PadSplit's coliving product offering at a much larger scale.

Emerging players

• June Homes: June Homes offers flexible, deposit-free apartment rentals on month-to-month leases in U.S. cities, with a focus on renters seeking alternatives to traditional 12-month leases. While focused on entire apartments rather than shared coliving rooms, June Homes' flexible-term rental model and tech-enabled operations place it in the same emerging flexible-rental category as PadSplit.
• Tripalink: Tripalink is a PropTech company that operates coliving-focused student housing communities in college markets, offering shared rooms and individual leases. While Tripalink's primary focus is student housing rather than workforce housing, the shared-living model and tech-enabled property management approach closely parallel PadSplit's coliving marketplace.

Market position

Strengths5 records

Weaknesses5 records

Customer concentration

• Xx.com/PadSplit
• Facebookfacebook.com/padsplit

Revenue estimate

Valuation estimate

Number of profiles

Profiles4 records

Funding overview

Funding rounds6 records

Investors18 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about PadSplit