What Leiguskjo does

Leiguskjól ehf. is an Icelandic fintech that operates a deposit-free rental guarantee platform, replacing traditional security deposits (typically up to three months' rent) with bank guarantees issued by Arion banki. Founded in 2018 and headquartered at Nóatúni 17, 105 Reykjavík, the company runs a self-serve digital platform at leiguskjol.is where renters apply online and receive an automated creditworthiness decision via Leigumat — a proprietary assessment that pulls Creditinfo credit scores, employment status, and income data and requires a minimum B3 credit rating. The product suite comprises the core Leiguskjól guarantee product, the Leigumat credit assessment module, the Igloo (myigloo.is) rental listing sub-brand, and the Mínar síður customer portal for managing guarantees and landlord claims. Quotes are issued within 25 minutes of application, and landlords receive guaranteed payment within 5 business days of valid claims.

The company generates revenue through tiered annual premiums on rental guarantees (185–300 ISK per 1,000 ISK of guarantee, declining as guarantee size increases), a one-time issuance fee of 4,900 ISK, and an optional monthly payment plan carrying 15.65% annual interest. A 20% down payment is required from the renter, and landlords access the service free of charge. Geographically, Leiguskjól serves the entire Icelandic market, with coverage explicitly listed for Reykjavík, Kópavogur, Hafnarfjörður, Akureyri, and other towns. The company operates with 1–10 employees and is privately held.

Since Arion banki acquired a majority stake in 2019, Leiguskjól has functioned as the bank's rental guarantee distribution arm, with Arion providing the underlying guarantee instrument and Creditinfo supplying the credit data layer. The company has received a 2020 grant from Iceland's Technology Development Fund (Tækniþróunarsjóður) under Rannís, and its founder Vignir Freyr Hanneson represented the company at the 2020 ITC + DIA World Tour Nordic insurance technology conference. Revenue is not publicly disclosed.

Name

Leiguskjo

Legal name

Leiguskjól ehf.

Website

https://leiguskjol.is

Company type

Private

Founded year

2018

Operating status

Operating

Headcount range

1–10 employees

Short description

Leiguskjól is an Icelandic fintech operating a deposit-free rental guarantee platform that issues Arion banki bank guarantees in place of traditional security deposits, serving individual renters and landlords across Iceland through its Leigumat, Igloo, and Mínar síður digital products.

Ownership category

akta.pro rank

Product category

Rental Guarantee Services

NAICS

Rental and Leasing Services (532), Residential Property Managers (531311)

SIC

Fire, Marine & Casualty Insurance (6331)

akta.pro primary industry

Residential Lease Administration & Tenant Services (BPAJAFAL)

akta.pro secondary industry

Renters Insurance (FSAJACAB)

Keywords

• Rental guarantee services
• Deposit-free rental
• Credit assessment
• Bank guarantee issuance
• Rental listing platform

Headquarters

HQ city

Reykjavík

HQ country

Iceland

HQ region

Europe

Offices1 record

Markets served

GTM type

B2C

Offering type

Services

Cost components

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

Revenue model

1. Rental Guarantee Premiums: Leiguskjól generates revenue by charging annual premiums for rental guarantees. The premium is calculated based on the guarantee amount, with pricing tiers ranging from 185 kr per 1,000 kr for amounts 600,000+ kr to 300 kr per 1,000 kr for amounts under 200,000 kr. Renters can pay monthly with interest (15.65% annually) or annually. A one-time fee of 4,900 kr is charged when a guarantee is issued. The minimum credit requirement is B3 at Creditinfo.

Pricing tiers

Go-to-market motion1 record

Distribution channels3 records

Marketing channels4 records

Core offering

Leiguskjól provides deposit-free rental guarantee services in Iceland by issuing bank guarantees from Arion banki in lieu of traditional cash security deposits of up to three months' rent. Renters apply online through a self-serve platform and receive quotes within 25 minutes, with guarantees compliant under Icelandic housing rental law No. 36/1994. Landlords receive guaranteed payment within 5 business days for valid claims and access guarantee management through the Mínar síður portal, while renters benefit from the Leigumat credit assessment that demonstrates rental reliability.

Product overview

Leiguskjól operates a deposit-free rental guarantee platform consisting of its core Leiguskjól guarantee service, the Leigumat credit assessment module, the Igloo rental listing platform, and the Mínar síður customer portal. Landlords list properties on Igloo, tenants apply for guarantees with Leigumat assessment, Leiguskjól issues bank guarantees from Arion banki in place of security deposits, and both parties manage guarantees through Mínar síður.

Differentiator

Problem solved

Functional benefit

Brands

• Igloo: A rental listing platform launched by Leiguskjól for listing rental properties - accessible at myigloo.is
• Leigumat

Products and services

• Leiguskjól Húsaleiguábyrgð (Rental Guarantee) Core deposit-free rental guarantee service that enables Icelandic tenants to obtain bank guarantees from Arion banki in lieu of traditional cash security deposits of up to three months' rent. Tenants apply online, receive a quote within 25 minutes, and obtain a legally compliant guarantee; landlords receive guaranteed payment within 5 business days of valid claims.
• Igloo (Leiguvefur) Rental Listing Platform Rental listing platform launched by Leiguskjól where landlords can list rental properties and tenants can search for apartments in Iceland. All property listings are now managed through Igloo at myigloo.is, creating an integrated ecosystem that directs users to the Leiguskjól guarantee service.

Quantifiable outcome

• Saved renters hundreds of millions of ISK by preventing illegitimate landlord claims or fraud attempts
• +2 more outcomes

Segments2 records

Ideal customer profiles2 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration3 records

Feature3 records

Partnerships

Two partnerships are on record, tiered core.

• CreditinfocoreTechnology or IntegrationCreditinfo provides credit scoring and assessment services used by Leiguskjól to evaluate renter eligibility. Leigumat assessment requires credit information from Creditinfo to determine minimum credit rating requirements (B3 or higher).
• Igloo (myigloo.is)coreOEM/ Whitelabel/ Licensing PartnerIgloo is Leiguskjól's rental listing platform that drives customers to use the guarantee service. All property listings now go through Igloo, creating an integrated ecosystem for deposit-free renting.

Scale indicators2 records

Recent moves5 records

Expansion highlights4 records

Broad incumbents

• Svea Bank: Nordic bank that offers deposit guarantees and rental financing products across the Nordics. Comparable as a Nordic incumbent with bank-backed deposit guarantee capabilities similar to Arion banki's role for Leiguskjól.
• Íslandsbanki: One of Iceland's three systemic retail banks; a direct domestic competitor that could replicate Leiguskjól's bank-guarantee product with its own balance sheet and mortgage customer base.
• Landsbankinn: Third major Icelandic retail bank with the deposit-taking capacity and mortgage origination scale to compete directly with Leiguskjól's parent-bank-backed guarantee offering.

Direct peers

• Rhino: US deposit-replacement insurtech offering security deposit insurance to renters and bonded coverage to landlords. Closest analog to Leiguskjól's guarantee-as-deposit-substitute model.
• Jetty: US-based deposit-replacement and renters insurance fintech that issues surety bonds to landlords in place of cash deposits. Direct product analog to Leiguskjól's bank-guarantee model, with similar positioning toward renters and landlords.
• TheGuarantor: US provider of lease guarantee bonds that replace traditional security deposits for renters. Competes head-to-head with Leiguskjól in product design and target audience.
• Insurent Guarantee: US lease guarantor that issues bonds accepted by landlords in lieu of cash deposits. Highly comparable product structure to Leiguskjól's bank-guarantee mechanism.

Emerging players

• Hemnet: Swedish property listing marketplace. Comparable to Leiguskjól's Igloo sub-brand as a Nordic real estate listing platform with potential to bundle deposit alternatives.
• LeaseTrack: Lease guarantee and deposit alternative provider in adjacent markets. Smaller, emerging analog of Leiguskjól's deposit-free rental guarantee thesis.

Others

• Creditinfo: Nordic credit bureau that supplies Leiguskjól's Leigumat scoring via Creditinfo Iceland. Key infrastructure partner and indirect dependency for Leiguskjól's underwriting model.

Market position

Strengths4 records

Weaknesses5 records

Competitive moat4 records

Key risks5 records

Key highlights6 records

Customer concentration

• Facebookfacebook.com/leiguskjol

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Funding overview

Funding rounds1 record

Investors2 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 Leiguskjo